The Resource Änderung der Steuerabkommen mit der Schweiz und mit Liechtenstein = Revision of the tax agreements with Switzerland and Liechtenstein

Änderung der Steuerabkommen mit der Schweiz und mit Liechtenstein = Revision of the tax agreements with Switzerland and Liechtenstein

Label
Änderung der Steuerabkommen mit der Schweiz und mit Liechtenstein = Revision of the tax agreements with Switzerland and Liechtenstein
Title
Änderung der Steuerabkommen mit der Schweiz und mit Liechtenstein = Revision of the tax agreements with Switzerland and Liechtenstein
Creator
Subject
Language
eng
Summary
As of 1 January 2017, both Switzerland and Liechtenstein are obliged to apply the Common Reporting Standard (CRS) also in relation to Austria, which provides for automatic exchange of information concerning bank account information. This led to a potential conflict of the new rules based on European Union law in comparison with the specific rules under the existing tax agreements concluded by Switzerland and Liechtenstein with Austria. These rules enabled taxpayers to avoid disclosure of their bank accounts vis-à-vis the Austrian tax authorities by opting for compensation payments which provided both the regularization of their tax situation for the past, including a tax amnesty on undeclared income, as well as proper taxation of current capital income derived from Swiss and Liechtenstein bank accounts in future years through the mechanism of a withholding tax corresponding to Austrian tax law. In order to clarify the new legal situation as of 1 January 2017, both agreements have been revised with a view to terminate those parts of the existing agreements which were seen to be in conflict with European Union law. The author describes the main features of the protocols amending the existing tax agreements
Citation source
In: Steuer und Wirtschaft International. - Wien. - Vol. 27 (2017), no. 2 ; p. 80-84
http://library.link/vocab/creatorName
Jirousek, H
Geographic coverage
  • European Union
  • Europe
Language note
German
http://library.link/vocab/subjectName
  • tax treaty
  • EU law
  • automatic exchange of information
Label
Änderung der Steuerabkommen mit der Schweiz und mit Liechtenstein = Revision of the tax agreements with Switzerland and Liechtenstein
Instantiates
Publication
Label
Änderung der Steuerabkommen mit der Schweiz und mit Liechtenstein = Revision of the tax agreements with Switzerland and Liechtenstein
Publication

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