Switzerland is in the process of four new tax agreements drafting

30.11.2011 Soon to the Swiss Parliament four new projects of international agreements in the tax sphere should be submitted for approval. Parties of such documents are Russia, Spain, Hong Kong and the UAE.
At this moment the introduction of specific measures proposed for inclusion in the agreements is not available, but the sense of creating new documents is to consolidate the capabilities of mutual aid in tax matters (this is in line with international standards), creating a favorable tax climate by lowering tax rates, fixing the procedures for resolving tax disputes .

Expert’s opinion

“Taking into consideration the fact that Russia is in the list of countries with which Switzerland is ready to sign new agreements in the tax sphere, drafting of these documents is of particular interest for lawyers and Russian investors. Improvement of the conditions of Russian business in Switzerland through fiscal instruments would be a huge incentive for the Russian financial flows attraction to the mentioned jurisdiction”.

On the basis: www.tax-news.com

Vorontsova Maria ( the lawyer of international consulting department of Honest&Bright)