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Swiss authorities release statement on application of Most Favored Nation clause in India-Swiss tax treaty

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India, Switzerland

Executive summary

The Swiss competent authorities have released a statement clarifying that, on the basis of the Most Favored Nation (MFN) clause in the India-Switzerland tax treaty (the Treaty), Lithuania's and Colombia’s accession to the Organisation for Economic Co-operation and Development (OECD) has the effect of retroactively1 reducing the residual tax rate in the source State for divide…

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