National Council
23.045 BRG. Hague Convention on Jurisdiction. Authorisation and implementation
Within its scope of application, the Convention ensures that decisions of agreed state courts are treated in the same way as those of arbitration tribunals. After the Council of States, the National Council unanimously approved the implementation of the Convention. This was also adopted following the final vote. SwissHoldings welcomes this, as the agreement creates legal certainty.
23.035 Protection of investments. Agreement with Indonesia
Since the previous investment protection agreement (ISA) with Indonesia expired in 2016, there has been a gap in the agreement that is to be closed with the new agreement presented. After the Council of States, the National Council also approved the deal by 125:62(8). In the final vote, both chambers also voted in favour of the new agreement. SwissHoldings welcomes the adoption of the agreement, as it protects Swiss companies from state discrimination and unlawful expropriation and safeguards the free transfer of payments in connection with investments.
Council of States
23.043 Double taxation. Agreement with the United Arab Emirates
The protocol of amendment to incorporate the BEPS minimum standards into the bilateral relationship between Switzerland and the UAE was put to the vote. The adoption of these standards provides more clarity and legal certainty for Swiss companies. After the National Council, the Council of States also approved the deal by 37:1(0), which meant that it went to the final vote, where it was also adopted. SwissHoldings welcomes the adoption, as a modern, advantageous and internationally compatible DTA will become much more important for the Swiss economy in light of the introduction of an ordinary profit tax by the United Arab Emirates (9% from June 2023).
