• Switzerland - Hungary
    New Tax Treaty Signed


    Switzerland and Hungary signed a new Income and Capital Tax Treaty on 12 September 2013. Once in force and effective, the new treaty will replace the old one of 1981.

    The new treaty will come into force after the two countries exchange ratification instruments. The withholding tax provisions of the treaty will have effect from 1 January of the calendar year next following that in which the agreement enters into force.

    In accordance with the new treaty, the following withholding taxes will apply:

    • Dividends:
      • 0% if the beneficial owner is a company (other than a partnership that is not liable to tax) which holds directly at least 10% of the capital of the company paying the dividends.
      • 0% if the beneficial owner is a pension scheme.
      • 0% if the beneficial owner is the central bank of the other contracting state.
      • 15% in all other cases.

    • Interest: 0%.

    • Royalties: 0%.
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