Double Taxation Agreement Canada Switzerland

1. The competent authorities of the Contracting States shall exchange information which is foreseeable for the application of the provisions of this Convention or for the administration or application of national legislation relating to the taxes covered by the Agreement, in so far as the taxation provided for in the Convention is not contrary to the Convention. Article 1 does not limit the exchange of information. 1. In the case of Canada, double taxation shall be avoided as follows: (3) This Article shall not be construed as requiring a Contracting State to grant personal allowances, exemptions and reductions to residents of the other State Party by reason of civil status or family obligations which it grants to its own residents. 5 The competent authorities of the Contracting States may, in cases not provided for in the Convention, consult each other on the elimination of double taxation. Bern, 22.10.2010 – The Federal Council Hans-Rudolf Merz and Josée Verner, Canada`s Minister for Intergovernmental Affairs, today signed a protocol in Bern amending the Double Taxation Convention (DBA) in the field of taxes on income and capital. Doris Leuthard, Federal President of the Swiss Confederation, and Stephen Harper, Prime Minister of Canada, met for talks on the sidelines of the Francophonie Summit. The DBA contains provisions on the exchange of information which comply with OECD standards and which have been negotiated according to the parameters adopted by the Federal Council. The revised DBA will contribute to the continuation of the positive development of bilateral economic relations.

The Government of Canada and the Swiss Federal Council, which wish to conclude a convention for the avoidance of double taxation on the basis of income and property, have reached an agreement as follows: 4. The Convention also applies to identical or substantially similar taxes levied after the date of signature of the Convention in addition to or in place of existing taxes. The competent authorities of the States Parties shall inform each other of any substantial changes to their respective tax legislation. On 13 March 2009, the Federal Council announced Switzerland`s intention to adopt the OECD standards on administrative assistance in tax matters, in accordance with Article 26 of the OECD Model Convention. The Decision authorises the exchange of information with other countries in specific cases where a concrete and reasoned request has been made. The Federal Council has decided to withdraw the corresponding reservation to the OECD Model Convention and to start negotiations on the revision of the double taxation conventions. However, it states that Swiss banking secrecy remains intact. 4. If, pursuant to paragraph 1, a person other than a natural company resides in both States Parties, the competent authorities of the States Parties shall endeavour, by mutual agreement, to clarify the matter and to determine the nature and mode of action of the Convention in respect of that person. Switzerland shall determine the applicable exemption and regulate the procedure laid down in the Swiss provisions on the implementation of the international conventions of the Swiss Confederation for the avoidance of double taxation. Statistics from January to July 2010 show that imports from Switzerland (mainly pharmaceuticals, jewellery, electrical machinery) are €91.2 million.

€72 million during the same period in 2009, while Maltese exports increased to €9.3 million (mainly machinery and pharmaceuticals), compared to €5.7 million in the first half of 2009. . . .