In media release No 2013/067, issued 12 May 2013, the Assistant Treasurer and Minister Assisting for Deregulation, David Bradbury, announced that the Government intends to sign a revised tax treaty between Australia and Switzerland.
The existing treaty has not been updated since it was signed in 1980 and is now one of Australia's oldest unamended tax treaties. Negotiations for the text of a revised treaty, which the Government announced in February 2011, were recently concluded.
The Australian and Swiss Governments will sign the revised treaty text at the earliest opportunity, subject to the completion of their respective domestic approval processes. Further information on the revised treaty will be made available upon signature.