Switzerland and Austria have signed a withholding tax agreement
set to start in 2013.
It means Austria citizens, with accounts in Switzerland, can tax
their existing banking relationships in Switzerland either by
making a one-off tax payment, or by disclosing their accounts.
It follows Swiss tax agreements with Germany and the United
Kingdom.
Market access also agreed
Future investment income of Austrian bank clients in Switzerland
will be subject to withholding tax, and the proceeds of this will
be transferred anonymously to the Austrian authorities by
Switzerland.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMutual market for financial services will be improved as part of
the agreement.
“The signing of the three agreements
underlines Switzerland’s and the banks in Switzerland’s commitment
to acquire and manage taxed assets only,”the Swiss Bankers
Association said in a statement.
The agreement requires the approval of parliament in both
countries.