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| Canada Seeks Revision Of Swiss Tax Treaty |
by Ulrika Lomas, Tax-News.com, Brussels
Friday, January 15, 2010
The Canadian Ministry of Finance has announced that negotiations on drawing up
a new double tax treaty with Switzerland will commence on February 8. The announcement
comes amid tension between the two countries as the Canadian government is pressing
Swiss bank UBS to relinquish information on Canadian clients.
The Canadian Ministry of Finance has begun a consultation so that it can gain
the opinions of Canadian taxpayers in advance of the negotiations. “The government is particularly interested
in learning of any difficulties that might be encountered by Canadians under
the tax system of Switzerland,” its statement said.
The Canadian government has yet to comment on what changes it is seeking to
the existing treaty, which dates back to 1987. It is presumed that the Canadian
side will seek increased access to tax information.
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