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This step of Switzerland can have a huge impact on India. According to the information, this step will have an impact on Indian institutions working in Switzerland. Let us tell you that Indian companies will now have to pay more tax on the income earned in Switzerland from January 1, 2025. More taxes will be imposed on companies.
The distance between Switzerland and India has increased. Now the new tax system has come into effect between Switzerland and India. Recently, Switzerland has taken a big step after the adverse court decision against Nestle. Under this, the Most Favored Nation status given to India by Switzerland has been withdrawn.
This step of Switzerland can have a huge impact on India. According to the information, this step will have an impact on Indian institutions working in Switzerland. Let us tell you that Indian companies will now have to pay more tax on the income earned in Switzerland from January 1, 2025. More taxes will be imposed on companies.
Switzerland in a statement announced suspension of the provision of MFN clause in the agreement between the Swiss Confederation and India for avoidance of double taxation with respect to taxes on income. Switzerland cited a decision of the Supreme Court of India in a case related to Nestle for its decision. Withdrawal of MFN status means that Switzerland will impose 10 percent tax on dividends earned in that country by Indian entities from January 1, 2025.
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