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Sweden-Switzerland

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Sweden Ratifies Pending Protocol to Tax Treaty with Switzerland

Sweden has published Law No. 2020:348, which provides for the ratification of the pending protocol to the 1965 tax treaty with Switzerland. The protocol, signed 19 June 2019, is the third to amend the treaty and includes the following changes:

  • The preamble is replaced in line with BEPS standards;
  • Article 26 (Mutual Agreement Procedure) is amended to provide that a person may present a case to the competent authority of either Contracting State (currently, may only present to the competent authority of the State of which the person is a resident), and to provide that a case must be submitted within three years (currently, no time limit provided); and
  • A new Article 28A (Main Purpose Test) is added, including that a benefit under the treaty shall not be granted in respect of an item of income or capital if it is reasonable to conclude, having regard to all relevant facts and circumstances, that obtaining that benefit was one of the principal purposes of any arrangement or transaction that resulted directly or indirectly in that benefit, unless it is established that granting that benefit in these circumstances would be in accordance with the object and purpose of the relevant provisions of the treaty.

The protocol will enter into force 30 days after the ratification instruments are exchanged and will generally apply from 1 January of the year following its entry into force, although the Article 26 changes will apply from the date of the treaty's entry into force, without regard to the tax period concerned.

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