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Albania, Switzerland sign double taxation exemption agreement

Xinhua, September 10, 2015 Adjust font size:

Albania and Switzerland on Wednesday in Tirana signed an agreement to amend their treaty on avoidance of double taxation.

The amending protocol provides for the exchange of information and administrative assistance in tax matters upon request by one party.

The agreement was signed by Albanian Deputy Foreign Minister Odeta Barbullushi and the Swiss Secretary of State Georges Martin.

Barbullushi and Martin underlined that the exchange of the fiscal information will boost economic ties between the two countries and will provide relief in administrative and fiscal matters for both Albanian and Swiss businesses.

The agreement on double taxation exemption will allow only one country to tax individuals and businesses operating either in Albania or Switzerland. Double tax exemption treaty also will remove barriers and facilitate economic and trade exchanges between the two countries.

Switzerland is one of the biggest donors in Albania, funding major development projects in various important fields. Endit