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Double-tax agreement between Switzerland and Saudi Arabia signed

From 17 to 20 February 2018, Federal Councillor Ueli Maurer together with the Swiss financial sector is paying a working visit to Saudi Arabia and the United Arab Emirates. Mr Maurer is accompanied by the State Secretary for International Financial Matters Jörg Gasser. This second trip with representatives of the Swiss financial sector in the context of financial market policy is focussing on talks on cooperation in financial and tax matters.

The Head of the Federal Department of Finance (FDF) is meeting his counterparts in Riyadh and Abu Dhabi. Other meetings are taking place with representatives of the supervisory authorities and central banks, as well as private-sector players. These talks deal with enhancing dialogue and cooperation in financial and tax matters with two important partner states of Switzerland in the Gulf region and bilateral and multilateral concerns regarding financial matters and concrete cooperation. Here in particular, the optimum framework for investments and financial services are beeing broached, as are Swiss financial institutions’ role and opportunities locally and the implementation of global standards in financial matters.

On 18 February 2018 in Riyadh, Federal Councillor Ueli Maurer signed a double taxation agreement with Saudi Arabia. The visit to Saudi Arabia also made it possible to pave the way for financial dialogue between the two states. In the United Arab Emirates, the visit will likewise serve to intensify bilateral cooperation in financial and tax matters.

The exchange with state and private-sector players in both states is taking place in the context of Switzerland’s financial market policy for a competitive Swiss financial centre. Both states are important target markets for Swiss financial service providers outside Europe. Swiss financial institutions have a strong presence in these markets. To improve the framework conditions, it is desirable to achieve a public image that is as consistent and effective as possible together with the sector. The delegation consists of about a dozen Swiss financial institutions which are active in these markets.

Source:  www.admin.ch

K Nadeesha Madhushani Karunathilaka

About K Nadeesha Madhushani Karunathilaka

K Nadeesha Madhushani Karunathilaka ist bei S-FinaCons verantwortlich für Public Relations & Kommunikation. Sie absolvierte ein Wirtschaftsstudium mit Schwergewicht auf Betriebswirtschaft, Ökonomie und Rechnungswesen. Nadeesha verfügt zudem über ein Diplom als Englischlehrerin. ***** K Nadeesha Madhushani Karunathilaka is responsible for Public Relations & Communication at S-FinaCons. She studied Commerce, including Business studies, Accounting and Economics. She holds a National Diploma in teaching English.

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