Global

Details

  • Service: Tax, International Corporate Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 8/20/2012

Canada - Agreement with Switzerland to follow OECD standard 

August 20:   Canada and Switzerland signed an agreement that modifies the Interpretative Protocol of the Canada-Switzerland treaty to provide that the interpretation of Article 25 follows the standard of the Organisation for Economic Cooperation and Development (OECD).

The agreement was concluded by an exchange of letters between the two countries.


The Canada-Switzerland income treaty was initially signed in 1997 and amended in 2010.


Canada and Switzerland still need to notify each other on completing the internal measures necessary for the agreement to enter into force. The agreement will enter into force on the date of the later of these notifications, and its provisions will have effect from 16 December 2011.


Read an August 2012 report prepared by the KPMG member firm in Canada: Canada-Switzerland Treaty Adopts OECD's Information Exchange Standard




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