“I don't think it will have impact”: Swiss Foreign Affairs Secy on suspending MFN Status with India

Описание: When asked about Switzerland suspending the Most Favored Nation (MFN) status with India and its impact on relations between the two countries, State Secretary of the Swiss Federal Ministry of Foreign Affairs, Alexandre Fasel says, "I don't think it will have any impact. It certainly will not have any impact on this very important free trade treaty, the Trade and Economic Partnership Agreement (TEPA), which we have concluded and which is in the process of ratification...When you mention the most favoured nation clause, that was a question within the double taxation agreement and we did not exactly suspend or withdraw that statement. We adapted the content of the most favoured nation clause to the Indian reading of what it means in that particular context...The confusion was on our side as well. We have a most favoured nation clause in this double taxation agreement. The question was, how will it be applied and is there a retro activity implied in the application of the most favoured nation clause. We thought it would. It seemed quite natural to us. But the Indian position after the court cases is that it is not possible. So we adapt to that. Both companies in India and Switzerland will have to pay the taxes that are agreed upon by the double taxation agreement..."

#switzerland #mfnstatus #economicpolicy

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