On Sunday 9 February 2014 Swiss voters adopted the "Stop mass immigration" initiative (German: “Initiative gegen die Masseneinwanderung”). What is the current practice regarding work permit types and quotas and what will change?
The new DTA replaces the agreement applicable since 1991. With the reduction on WHT from 10% to 5%, Switzerland will become one of the most favourable countries in Europe, both for investments into China as well as for investments from China to Europe.
Revenues of Swiss shipping companies derived from activities in China are subject to Chinese Business Tax/VAT. Neither the current double tax treaty nor the new free trade agreement between Switzerland and China provide for an exemption from VAT. Switzerland intends to eliminate this disadvantage compared to other countries.