On 17 May 2019, Switzerland and South Korea signed a Protocol of Amendment to the Double Taxation Convention (DTA) in the area of taxes on income.

The Protocol of Amendment to the DTA with South Korea implements the minimum standards in double taxation agreements and contains in particular a misuse clause.

Furthermore, the mutual agreement procedure can now be submitted to the competent authority of one of the two Contracting States.

The cantons and interested business circles have welcomed the conclusion of the Protocol of Amendment. Before it can enter into force, it must be approved by the parliaments of both countries.

The corresponding press release of the Federal Department of Finance (FDF) is available here.