Brief by Shorts91 Newsdesk / 06:36pm on 13 Dec 2024,Friday India Global
Switzerland has revoked India's 'Most Favoured Nation' (MFN) status following a 2023 Supreme Court ruling in the Nestle case. The court decided that the MFN clause in the Double Taxation Avoidance Agreement (DTAA) does not apply automatically when a country joins the OECD. As a result, Switzerland will raise the tax on dividends from 5% to 10% for Indian entities starting January 1, 2025. Experts warn this will increase tax liabilities for Indian companies in Switzerland and may affect Swiss investments in India.
