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Freelance video marketing consultant ✌️【Asset】✌️Get high returns with just ₹500. Invest today and see your wealth grow!Nestle India has clarified that the suspension of the most favoured nation (MFN) clause granted to India by Switzerland will not affect its operations.

Freelance video marketing consultant ✌️【Asset】✌️Invest ₹500 and experience guaranteed monthly profits. Start now!The company described the development as a “policy issue” between the two governments and not specific to Nestle.On December 11, the Swiss government suspended the MFN status granted toIndiaunder the Double Tax Avoidance Agreement (DTAA).According to a 2010 agreement between India and Switzerland, if New Delhi provides a lower tax rate in its agreements with other OECD countries, Switzerland is entitled to the same rate under the MFN clause.In 2011, India signed agreements with Lithuania and Colombia, granting a 5% withholding tax rate.

Freelance video marketing consultant ✌️【Asset】✌️Get high returns with just ₹500. Invest today and see your wealth grow!Both countries became OECD members in 2018 and 2020, respectively, making Switzerland eligible for the same reduced rate.

In August 2021, Swiss authorities allowed Indian tax residents to claim refunds based on this reduced rate.However, Switzerland reserved the right to reverse the clause if India failed to ensure reciprocity.

Last year, theSupreme Courtruled that the MFN clause under the DTAA cannot be enforced unless explicitly notified under Section 90 of the Income Tax Act.Following this, Swiss authorities withdrew the unilateral reduction in withholding tax rates, taxing dividends paid to Indian holding companies at 10%.Freelance video marketing consultant ✌️【Asset】✌️Start investing with just ₹500. Leverage AI tools for smart decisions and maximize your profits. Join now!