Nestle India has clarified that the suspension of the most favoured nation (MFN) clause granted to India by Switzerland will not affect its operations. The company described the development as a “policy issue” between the two governments and not specific to Nestle. On December 11, the Swiss government suspended the MFN status granted to India...
Tag: nestle
Post
Post
Nestle India Unaffected by Switzerland’s MFN Suspension: A Policy Issue Overview | Business
Nestle India announced on Thursday that the suspension of Switzerland’s MFN clause will not impact the company, despite the broader policy issues it represents between governments. The FMCG major clarified the matter is not specific to them. The suspension stems from a Supreme Court ruling stating the MFN clause under the DTAA cannot be...
Post
Diplomatic agreement needed to resolve India-Switzerland MFN taxation stalemate, says expert – CNBC TV18
Switzerland has decided to suspend the ‘Most Favoured Nation’ (MFN) clause from its bilateral double tax avoidance agreement (DTAA) with India, effective January 1 next year. This change is anticipated to increase tax liabilities for Indian firms operating in Switzerland. Following the suspension, Switzerland will impose a 10% tax on dividends paid to Indian tax...
Post
Repatriation of profit from Swiss to become a costlier affair
The Supreme Court judgment on ‘double taxation avoidance agreements’ in the Nestle case, coupled with the decision of the Swiss finance department to withdraw the most favoured nation status for India is expected to have a wider ramification on past investments made by Indian companies in Switzerland. Prashant Bhojwani, Partner, Corporate Tax, Tax & Regulatory...
Post
Switzerland Revokes MFN Status In Tax Treaty With India Following Nestle Verdict
Switzerland has taken unilateral action following the Supreme Court of India’s ruling in the Nestle case, revoking India’s “Most Favoured Nation” (MFN) status under the Double Taxation Avoidance Agreement (DTAA). This move marks a significant shift in bilateral treaty dynamics, which will substantially impact Indian companies operating in Switzerland and Swiss investments in India. In...
Post
Switzerland cancels ‘most favoured nation’ status to India over Nestle ruling
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...
Post
Switzerland Suspends ‘Most Favoured Nation’ Status To India, But Why? Is It Due To SC’s Nestlé Case Ruling?
Switzerland withdraws the ‘Most Favoured Nation’ status from its tax treaty with India, following a Supreme Court ruling in the Nestle case. Dividend taxes are affected and this might lead to renegotiation as India recently signed a trade pact with the European Free Trade Association. Switzerland has now decided to withdraw the ‘Most Favoured Nation’...
Post
India’s DTAA with Switzerland may require renegotiation: MEA
India on Friday said its double taxation treaty with Switzerland may require renegotiation in view of its trade pact with the member states of the European Free Trade Association (EFTA). The remarks by the spokesperson of the Ministry of External Affairs (MEA) came after the Swiss government suspended the most favoured nation status (MFN) clause...
Post
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...
Post
Switzerland suspends MFN clause with India under tax treaty, cites SC ruling in Nestle
Switzerland has announced the suspension of the most favoured nation (MFN) status granted to India following an adverse court ruling against Nestle. This means increased tax liabilities for Indian entities operating in Switzerland. From January 1, 2025, Indian companies will be subject to a higher withholding tax on income generated in Switzerland. The decision follows a ruling...
Post
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...
Post
Swiss giant Nestle hit by slowing sales, unlike rivals Unilever and Danone
Nestle sales growth sputtered in the first quarter as the maker of Nespresso coffee was hit by cooler demand in North America and supply constraints at its vitamins unit. Sales rose 1.4% in the period on an organic basis, the Swiss company said Thursday, about half the estimate of analysts. Its real internal growth rate...
- 1
- 2