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.
On 6 July 2013, the Chinese Minister of Commerce, Gao Hucheng, and the Swiss Federal Councillor, Johann N. Schneider-Ammann, signed a Free Trade Agreement (FTA) between the two nations. As a result, Switzerland will become the first country in continental Europe to enter in such an agreement with China. The Free Trade Agreement covers areas of trade in goods and […]
As of 1 January 2013, the new Double Tax Treaty between Switzerland and Hong Kong entered into force. It puts Switzerland in the limelight for outbound investments from China via Hong Kong to Europe. Reversely, it helps companies doing business in Switzerland and other Europeans countries to structure their investments into Hong Kong.