Roche & Cie

The Senate passed two tax agreements with Singapore and Switzerland

22 Feb 2016

The Senate passed two bills authorizing the ratification of a tax treaty between France and Singapore, firstly, and, secondly, a tax agreement between France and Switzerland.

The first text, on the Franco-Swiss agreement will now allow the French tax authorities to send to Switzerland a request for administrative assistance on taxpayer groups without providing, as previously, their names and addresses . For bank information, the state will not have to know and therefore to appoint the bank that holds the sought items.

The new agreement between France and Singapore also strengthen the fight against fraud and tax optimization, including ending the non-taxation situations. And taxable income shall be exempt from tax in France if the recipient has actually been subject to tax in Singapore.

“This new agreement, clearer once it resumes the OECD model also includes favorable tax arrangements for economic actors in the relations between the two countries,” said Minister.

The Secretary of State for the Budget Christian Eckert, welcomed “the adoption of these two texts, which marks the culmination of lengthy negotiations to change our tax treaties with Switzerland and Singapore. This is another important step in the fight against fraud and tax evasion committed by the Government since 2012 “.

For more information : Cabinet Roche & Cie, Chartered Accountant in Lyon, France.