On 13 August 2021, the Swiss Federal Tax Administration published a notice regarding the application of the most favored nation (MFN) clause introduced by the 2010 protocol to the 1994 tax treaty with India. This includes that the MFN clause has been activated in respect of dividends as a result of India's 2011 tax treaties with Colombia and Lithuania, which have since joined the OECD (a condition for the MFN clause). As such, the following withholding tax rates on dividends are applied retr…