1989 - 2018 29 years in business Saturday, 20th January 2018

Switzerland, Oman Sign DTA


Dear Clients, 

 

Switzerland and Oman have signed a new double tax agreement (DTA) that sets withholding

tax rates for dividends, interest, and royalties income.

 

Under the DTA, dividends will be taxed at a maximum rate of 15 percent at source. Dividend

Payments from significant holdings will be subject to a five percent rate in the source state

Dividend payments to pension funds and the contracting state will be taxable solely in the

Recipient’s state of domicile.

 

Interest will be taxed at no more than five percent in the source state. Certain interest payments

Will be taxable only in the recipient’s state of domicile. Royalty payments will be subject to tax

of no more than eight percent in the source state. A most favoured nation clause will ensure that

lower maximum royalty tax rates agreed by Oman with third countries will also apply for Switzerland.

 

The DTA also includes provisions on the automatic exchange of information in line with the international

Standards.

 

The cantons and business associations have approved the signing of the DTA. It must now be approved by

The parliament. Switzerland has signed 51 DTA’s and eight tax information exchange agreements (TIEA’s)

41 of these DTA’s and three TIEA’s are in force.

 

Should you require further clarification, please do not hesitate to contact us at: info@cardwell-capital.com

 

Kind Regards

Cardwell Advisory Desk
 
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