The Swiss government has suspended the most favoured nation status (MFN) clause in the Double Taxation Avoidance Agreement (DTAA) between India and Switzerland, potentially impacting Swiss investments in India and leading to higher taxes on Indian companies operating in the European nation. According to a December 11 statement by the Swiss finance department, the move...
Category: Bussiness
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Switzerland withdraws MFN status from India
Switzerland cited a ruling by Indian Supreme Court in a case relating to Nestle for its decision to withdraw the MFN. File | Photo Credit: Reuters In a development that could hurt India’s investment climate and affect firms’ international taxation math, Switzerland has decided to suspend the Most Favoured Nation (MFN) treatment for India under...
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Switzerland Revokes India’s MFN Status Amid Nestle Tax Dispute | Business
In a significant economic development, Switzerland has announced the withdrawal of the Most Favoured Nation (MFN) status it had granted to India. This follows a legal ruling by the Indian Supreme Court against Switzerland-based multinational Nestle, triggering adverse tax implications for Indian businesses. Effective January 1, 2025, Indian companies operating in Switzerland will...
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Switzerland suspends most favoured nation clause in tax treaty with India – CNBC TV18
Switzerland has announced the suspension of the most favoured nation (MFN) clause under its Double Tax Avoidance Agreement (DTAA) with India, effective January 1, 2025. This move will allow income such as dividends and royalties to be taxed in the source state at rates specified in the DTAA. The Swiss authorities cited India’s Supreme Court...
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Switzerland suspends most favoured nation clause in Double Tax Avoidance Agreement with India
Starting January 1, 2025 Switzerland has suspended the application of the most favoured nation clause of the protocol to its Double Tax Avoidance Agreement (DTAA) with India, which is expected to increase tax liabilities of firms. The decision follows an October 2023 ruling by India’s Supreme Court that held that the most favoured nation (MFN)...
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Swiss companies invest more in their foreign subsidiaries
Companies based in Switzerland once again invested more money in their foreign subsidiaries last year. This is shown by an analysis of direct investments by the SNB.(symbolic image) Keystone In 2023, companies based in Switzerland invested more funds in their foreign subsidiaries than they withdrew for the first time since 2018. In the years 2019...
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Swiss central bank announces big rate cut to boost economy
(L-R) Vice Chairman of the Swiss National Bank (SNB) Antoine Martin, Swiss National Bank chairman Martin Schlegel and Member of the Swiss National Bank governing board Petra Tschudin attend a press conference on monetary policy assessment in Bern on December 12, 2024. – The Swiss central bank announced on December 12, 2024 a surprise interest...
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Ghana and Switzerland sign $14m grant deal to boost local governance
The Government of Ghana and Switzerland have signed a CHF 12 million about USD$14million grant agreement aimed at supporting the implementation of the District Assemblies Common Fund Responsiveness Factor Grant (DACF-RFG). The signing ceremony in this landmark development, held in Accra, was attended by Ghana’s Minister for Finance, Dr Mohammed Amin Adam, the Swiss Ambassador...
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Switzerland: Lonza to focus on CDMO business and exit Capsules & Health Ingredients
Switzerland based CDMO, Lonza, is simplifying its organizational structure to focus on the CDMO business, expanding it through a buy and build approach. The firm has also decided to exit the Capsules & Health Ingredients (CHI) business at the appropriate time. “The strategy reflects our ambition to become a pure-play CDMO business,” said Wolfgang Wienand,...
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UK & Switzerland Deepen Science Ties with £16 million Backing
UK and Switzerland update science and research partnership to focus on some of today’s most pressing challenges, from healthcare to green energy. Science and tech leaders from the UK and Switzerland have agreed to update the landmark science and research agreement between the two countries, to focus work on some of today’s most pressing challenges,...
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Syrian assets worth $190m frozen in Switzerland
Portraits of ousted Syrian President Bashar al-Assad dumped in a skip in the Damascus suburb of Daraya on Monday. Photo / Rami al Sayed, AFP Switzerland is home to around 99 million Swiss francs ($190 million) in frozen Syrian assets, Bern’s economy ministry told AFP, denying any of it belonged to fallen president Bashar al-Assad....
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Switzerland Cuts Emissions by 24% as Economy Doubles: UBS Whitepaper
Scaling Renewables and Energy Storage: Switzerland must double its energy capacity and address seasonal supply challenges to stay on track for net-zero goals. CHF 13 Billion Annual Investment Needed: Private capital will play a critical role in funding the transition to a low-carbon economy. Emerging Green Markets: Switzerland has opportunities to lead in carbon capture,...