The new agreement contains provisions on the exchange of information in accordance with the international standard applicable at present.
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Aside from an OECD administrative assistance clause, Switzerland and Ireland have agreed that both countries may levy withholding tax of no more than 15% on gross dividend amounts. If, however, a company holds a stake of at least 10% in the capital of the distributing company, the dividends will be exempt from withholding tax.
Moreover, there will be no withholding taxes on dividends paid to the national banks of the two countries or to pension funds.
After negotiations finished, a report on the revision of the DTA with Ireland was submitted to the cantons and the business associations concerned for their comments. They largely approved the signing. The revision still has to be approved by parliament in both countries before it can come into force.
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