Amendments to the Double Tax Treaty ('DTT') between Albania and Switzerland have been approved by the Albanian Parliament on 10.03.2016 with Law no. 26/2016 "On the ratification of the Protocol between Council of Ministers of Republic of Albania and Swiss Federal Council, which amends the Convent dated 12 November 1999, between Republic of Albania and Swiss Confederation, on Double Tax Treaty, on incomes and revenues".
With the ratification of the Protocol for the amendment of the Double Tax Treaty between Albania and Switzerland, among a number of amendments throughout the existing articles of the Treaty aimed to increase the e‑ectivity of its application, a new article concerning the exchange of tax information between the respective tax administrations has been added. Noteworthy, one of the major important amendments concerns the taxes on which the DTT will apply, as follows:
I Income tax, including corporate income tax, personal income tax, capital gains tax or taxes from income generated from transfer of immovable and movable properties;
II Taxes on the activity of small business; and
III Tax on Property.
The ratifying Law was published in the Albanian Official Gazette nr. 52, dated 05.04.2015 and has entered into force 15 days after the publication date.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.