SWITZERLAND AND BULGARIA INITIAL REVISED DOUBLE TAXATION AGREEMENT

SWITZERLAND AND BULGARIA INITIAL REVISED DOUBLE TAXATION AGREEMENTIn Bern, Switzerland and Bulgaria signed a double taxation agreement (DTA) in the area of taxes on income and capital. The DTA will contribute to the further positive development of bilateral economic relations. Along with an administrative assistance clause in accordance with the internationally applicable standard, it contains various provisions that are beneficial to the Swiss economy.

The initialled text is still confidential, and the next step is for the cantons and business associations concerned to submit their views. The Federal Council will then decide on whether to authorise the signature, after which the agreement will be published. The agreement can be ratified and enter into force once the approval process has been completed in the partner state and the National Council and Council of States have given their approval. – www.efd.admin.ch