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April 15, 2019
Colombia and Switzerland sign mutual agreement for Colombian tax residents to request refund of Swiss withholding tax on dividends and interest
On 1 March 2019, Colombia and Switzerland signed an agreement under Article 25 (Mutual Agreement Procedure) of their tax treaty, which provides the procedure for Colombian tax residents to request a refund or a partial exemption at source of Swiss withholding tax on dividends and interest.
Under the procedure, Colombian tax residents must:
This procedure went into effect on 1 March 2019, and applies to all pending and future claims. If a past claim for benefits under the tax treaty was denied because a tax residence certification was not provided directly on the Swiss form, the Colombian tax resident will have to file a new request using the correct Swiss form and following the new procedure. In this case, the claim will be treated as if it was duly filed on the date of the first submission of the Swiss form for purposes of the Swiss statute of limitations.
For additional information with respect to this Alert, please contact the following:
Ernst & Young S.A.S., Bogotá
Ernst & Young, LLP, Latin American Business Center, New York
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific