Switzerland Revokes India’s MFN Status
Deccan ChronicleMumbai: Switzerland has suspended the Most-Favoured-Nation status granted to India that could lead to higher taxes on Indian companies operating in the European nation. Effective January 1, 2025, Indian companies operating in Switzerland will be subjected to a heightened withholding tax rate on income such as dividends and royalties generated in Switzerland. This decision follows a ruling by the Indian Supreme Court in October 2023 which determined that the Double Tax Avoidance Agreement cannot be enforced unless it is notified under the Income-Tax Act. The Supreme Court ruling effectively overturned a Delhi High Court order that had ensured companies and individuals were not subject to double taxation while working in or for foreign entities.
History of this topic
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