On 24 September 2014, the Australian law ratifying the new income tax treaty with Switzerland received royal assent. The treaty was signed 30 July 2013, and the law ratifying the treaty for Switzerland was adopted on 4 June 2014.
Once in force and effective, the treaty will replace the 1980 tax treaty between the two countries, which currently applies.
Taxes Covered
The treaty covers Australian income tax, fringe benefits tax and resource rent taxes. It covers Swiss federal, cantonal and…