World Business NewsA round up of the latest news for those doing business internationally
France rescinds IHT Treaty with Switzerland
Zone(s): France, Switzerland ¦ Sector(s): Taxation
[24 June 2014, Tax-News.com] By Ulrika Lomas, Tax-News.com, Brussels: France has announced its decision to rescind the 1953 inheritance tax (IHT) agreement with Switzerland with effect from December 31, 2014. From January 1, 2015, domestic inheritance tax rules will apply in the absence of a treaty, removing a degree of certainty that the treaty provided concerning the taxing rights of the two territories, and in particular provisions that sought to avoid double taxation. Provisions governing the taxation of persons with dual residence will cease to apply, and a provision providing for arbitration in the case of a dispute will no longer have force.