Switzerland revokes MFN status to India over SC Nestle order

Friday, 13 December 2024
Switzerland has withdrawn the most-favored-nation clause for India under their double tax avoidance agreement. This comes after a 2023 Indian Supreme Court ruling against Nestle, impacting Indian companies invested in Switzerland. Dividend tax will rise from 5% to 10% starting January 1, 2025, potentially reducing their competitiveness and prompting other nations to follow suit.

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Switzerland withdraws MFN status for India, cites Nestle verdict; here's what it means for Indian businesses

Switzerland cited a 2023 ruling by Indian Supreme Court in a case relating to Vevey-headquartered Nestle for its decision to withdraw the MFN status
DNA on December 14, 2024

Switzerland revokes MFN status to India over SC Nestle order

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Switzerland withdraws MFN status for India, cites Nestle verdict; here's what it means for Indian businesses