The tax liability of several Indian companies, which have operations in Switzerland, including bellwether IT and pharma firms, may rise with the central European country announcing a decision to increase the withholding tax on dividends their Swiss arms pay to Indian parents under the ‘source rule’, from 5% to 10%, effective January 2025. Switzerland cited...
Tag: India-Switzerland tax treaty
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Switzerland revokes MFN status to India over SC Nestle order – Times of India
NEW DELHI: Retaliating against a 2023 Supreme Court ruling related to Nestle, Switzerland has withdrawn the most-favoured-nation clause to India under the double tax avoidance agreement, a move that will hit Indian companies invested in the European nation.“For dividends due from and including Jan 1, 2025, the residual tax rate in the source State is...
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Bad news for India as Switzerland revokes this special status to India due to…
Home Business Bad news for India as Switzerland revokes this special status to India due to… According to the statement, in 2021, the Delhi High Court in the Nestle case upheld the applicability of the residual tax rates after taking into account the MFN clause in the double taxation avoidance treaty. The Switzerland government has...