The Assistant Treasurer on Tue 30.7.2013, announced that Australia and Switzerland have signed a revised tax treaty, which will replace the existing treaty signed in 1980. The revised treaty will align the bilateral tax arrangements more closely with current Australian and international tax treaty policy setting, and also strengthen the administrative assistance between the tax authorities.
According to the Assistant Treasurer, the revised treaty will enter into force after both countries have completed their respective domestic requirements. Legislation to give the treaty the force of law in Australia will be introduced into the Parliament as soon as practicable, he said.
Source: Assistant Treasurer’s media release No 144, 30 July 2013
[LTN 145, 30/7/13]