Daily Tax Report: International

Switzerland Tax Agency Posts Text of CAA Under DTA With U.S.

July 14, 2020, 5:00 AM

The Swiss Federal Tax Administration June 29 posted online the text of a competent authority agreement (CAA) under the 1996 DTA with the U.S. regarding the interpretation of the term “North American Free Trade Agreement” (NAFTA), signed June 25. NAFTA is replaced by an agreement between the U.S., Mexico, and Canada (USMCA), signed Nov. 30, 2018. The CAA is signed pursuant to Article 25 of the DTA, and provides that references to NAFTA in the DTA, its protocol, and the memorandum of understanding, signed October 2, 1996 through an exchange of notes, are understood as references to the USMCA after...

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