Switzerland has signed a revised double taxation agreement with Austria as part of steps to ease the exchange of tax information with other countries.
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It is the fifth of 12 such accords Switzerland needs to sign to be removed from the “grey list” of tax havens established in April by the Organisation for Economic Co-operation and Development (OECD).
The agreements all conform with Article 26 of the OECD’s Model Tax Convention, which creates an obligation for countries to share relevant data for tax enforcement.
Accords have been signed with Denmark, Luxembourg, France and Norway. Other agreements with Mexico, the United States, Japan, the Netherlands, Poland, Britain, Austria, Finland, Qatar and Singapore have been initialled but not yet signed.
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