On 19 September 2023 in Belgrade, Switzerland and Serbia signed a protocol of amendment to the agreement between Switzerland and Serbia and Montenegro for the avoidance of double taxation with respect to taxes on income and capital (DTA). The protocol implements the minimum standards for double taxation agreements.
In particular, the protocol of amendment contains an abuse clause which refers to the main purpose of an arrangement or transaction and thus ensures that the DTA is not abused. It contains also an administrative assistance clause in accordance with the international standard for the exchange of information upon request.
The DTA was concluded at a time when Serbia and Montenegro still formed a single state. In the meantime, the federation has dissolved and Serbia and Montenegro form two separate states. The provisions of this Amending Protocol apply only to the Republic of Serbia, but not to Montenegro, to which the existing Convention continues to apply.
The cantons and the business circles concerned have welcomed the conclusion of the protocol of amendment. It still has to be approved by parliament in both countries before it can come into force.
Address for enquiries:
Bilateral Tax Issues and Double Taxation Treaties Section, State Secretariat for International Finance SIF
Tel. +41 58 462 71 29, dba@sif.admin.ch
Last modification 21.09.2023