The Swiss State Secretariat for International Finance has announced the signing of an income and capital tax treaty with Bahrain on 25 November 2019. The treaty is the first of its kind between the two countries. Taxes Covered The treaty covers Swiss federal, cantonal, and communal taxes on income and on capital and covers Bahrain income tax payable under Amiri Decree No. 22/1979. Hydrocarbon PE The treaty includes the provision that a permanent establishment will be deemed constituted if, for a period of more than 90 days, an enterprise of one Contracting State carries on any activity that is directly...