A Decade Later…The Protocol Of Amendment To The Double Taxation Agreement Between Switzerland And The United States Is Finally Entering Into Force

Author:Ms Laure Cordt-Møller
Profession:Charles Russell Speechlys

The two states had signed the protocol on 23 September 2009 in order to revise their 1996 DTA. Ratified in 2010 by the Federal Assembly, the protocol was blocked in the US Senate, which gave its final approval on 17 July 2019, almost ten years later.

The exchange of information between the two states is the core element of the revision. There is no longer any distinction between tax evasion and tax fraud for both individual and group requests. The revision is now in line with the international standard on the exchange of information upon request, already applied by Switzerland to more than 100 states.

Requests can be made on or after the protocol has entered into force, i.e. from 20 September 2019. Requests in relation to financial accounts must relate to cases which have occurred since 23 September 2009...

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