by Ulrika Lomas, Tax-News.com, Brussels
24 July 2020
Switzerland has signed protocols to its double taxation agreements with Cyprus, Liechtenstein, and Malta to implement minimum standards developed as part of the OECD’s BEPS project.
The amending protocols were agreed with Liechtenstein on July 14, Malta on July 16, and Cyprus on July 20.
Each protocol contains an anti-abuse clause, to deny access to treaty benefits for arrangements or transactions where the principal purpose of that arrangement or transaction is to inappropriately derive a tax benefit.
The protocol with Liechtenstein also supplements the provision in the treaty on mutual agreement procedure dispute resolution, in line with the BEPS minimum standard.