Double tax accord signed with Norway

Switzerland has signed a revised double taxation agreement with Norway, easing the restrictions on the exchange of tax information between the two countries.

It is the fourth of 12 such agreements Switzerland needs to sign in order to be removed from the “grey list” of tax havens established in April by the Organisation for Economic Co-operation and Development (OECD).

Switzerland signed its first agreement with Denmark on August 21, followed by Luxembourg and France.

Agreements with Mexico, the United States, Japan, the Netherlands, Poland, Britain, Austria, Finland, Qatar and Singapore have been initialled but not yet signed.

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.

The cabinet has given permission to sign three more of these agreements, with Mexico, Britain and Austria. The others will be submitted to cabinet shortly, the finance ministry said in a statement.

swissinfo.ch and agencies