This is an automated translation.
The SwissHoldings Session Preview informs about the upcoming issues of the autumn session from 4 to 22 December. The Preview contains a brief overview of the issues, the current stand as well as a recommendations of our association.
Overview
National Council
23.045 BRG. Hague Convention on Jurisdiction. Authorisation and implementation
Recommendation: SwissHoldings supports the approval and implementation of the Hague Convention on Choice of Court Agreements and recommends its adoption.
On the agenda on the 6th of December 2023
Switzerland is to accede to the Hague Convention on Jurisdiction. The Convention aims to promote legal certainty for international trade relations by establishing uniform rules on the jurisdiction of courts in civil and commercial matters.
16.08.2023: RK-S recommends adoption
27.09.2023: Adoption in the Council of States
27.10.2023: RK-N recommends adoption
SwissHoldings welcomes the approval of the agreement. Within its scope of application, it creates legal certainty and ensures that decisions of agreed state courts are treated equally to those of arbitration tribunals. We are in favour of Switzerland not making any reservations or declarations to the Convention. Otherwise, these would again restrict the intended legal certainty.
Dr. Gabriel Rumo Director & Law
✉ gabriel.rumo@swissholdings.ch
☎ +41 (0)79 712 20 20
23.035 Investment protection. Agreement with Indonesia
Recommendation: SwissHoldings supports the investment protection agreement with Indonesia and recommends its adoption.
On the agenda on the 12th of December 2023
On 5 April 2023, the Federal Council adopted the Dispatch on the new bilateral investment protection agreement between Switzerland and Indonesia for the attention of the Federal Assembly. The agreement closes the gap in the treaty that existed since the previous agreement expired in 2016.
30.06.2023: APK-S recommends adoption
28.09.2023: Adoption in the Council of States
17.10.2023: APK-N recommends adoption
SwissHoldings supports the present Investment Protection Agreement (IPA) with Indonesia: The IPA protects Swiss companies from state discrimination and unlawful expropriation and ensures the free transfer of payments in connection with investments. In combination with the free trade agreement between the EFTA states and Indonesia, which will enter into force in 2021, it is expected that the investment protection agreement will significantly strengthen the trade and investment dynamics of Swiss companies in Indonesia in the medium and long term.
The content of the agreement corresponds to current standards: The design of investment protection has been continuously developed in recent years – especially with regard to legal certainty and protection against its misuse. The association has always supported the corresponding work for the further development of the dispute settlement system.
Denise Laufer Head Economics & Member of the Executive Committee
✉ denise.laufer@swissholdings.ch
☎ +41 (0)76 407 02 48
Council of States
23.043 Double taxation. Agreement with the United Arab Emirates
Recommendation: SwissHoldings recommends the adoption of the Protocol of Amendment to the Double Taxation Agreement.
On the agenda on the 14th of December 2023
The revision protocol includes the adoption of the BEPS minimum standard in the DTA with the United Arab Emirates. This internationally mandatory standard has already been incorporated into many Swiss double taxation agreements since its adoption in autumn 2015. The innovations bring our companies more clarity and legal certainty.
27.06.2023: WAK-N recommends adoption
19.09.2023: Adoption in the National Council
10.11.2023: WAK-N recommends adoption
Against the background of the introduction of an ordinary profit tax by the United Arab Emirates (9% from June 2023), a modern, advantageous and internationally compatible DTA will become significantly more important for the Swiss economy.
Martin Hess Head Taxation & Member of the Executive Committee
✉ martin.hess@swissholdings.ch
☎ +41 (0)78 805 04 95
