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Swiss Inheritance Tax Deal with France Challenged In Switzerland

The economy commission of the Swiss National Council has rejected the new draft Double Tax Convention (DTC) between France and Switzerland. This new DTC between France and Switzerland which revise the applicable inheritance tax regime has been negotiated but not yet signed. The new treaty provides a punitive tax treatment of companies operating in non-cooperative jurisdictions to companies operating in low-tax jurisdiction and has been criticized mainly for bringing advantage only to France and none to Switzerland. According to the new changes in the law, a French resident taxpayer controlling directly or indirectly at least 50% of a offshore company based in a low-tax jurisdiction is now required to prove that the foreign company is carrying on honest business activities abroad, and that the business structure has "main ... Read More »

Switzerland

Taxation in Switzerland Switzerland is a federal republic and is officially known as the Swiss Confederation and is a landlocked country in Western Europe. The country borders with Germany, France, Italy, Austria and Liechtenstein. Switzerland has one of the highest levels of life quality of the world. It is divided in to 26 Cantons and every Canton and every community has a different taxation system. Many international organizations have established their representative offices in Switzerland, but the country has decided not to join the EU. The term of offshore company is not used in Swiss legislation or in a company description forms even if they offer tax-privileged treatment to that obtainable in offshore jurisdictions. Switzerland has a prosperous and stable modern economy with a per capita GDP approximately 10% ... Read More »