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RS 0.641.926.811 Agreement of 26 October 2004 in the form of an exchange of letters of 26 October 2004 between the European Community and the Swiss Confederation on the date of application of the Agreement between the European Community and the Swiss Con

Original Language Title: RS 0.641.926.811 Accord du 26 octobre 2004 sous forme d’échange de lettres du 26 octobre 2004 entre la Communauté européenne et la Confédération suisse sur la date d’application de l’accord entre la Communauté européenne et la Confédération suisse prévoya

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0.641.926.811

Original text

Agreement

In the form of an exchange of letters of 26 October 2004 between the European Community and the Swiss Confederation on the date of application of the Agreement between the European Community and the Swiss Confederation providing for measures equivalent to those Provided for in Council Directive 2003 /48/EC of 3 June 2003 on taxation of savings income in the form of interest payments

Approved by the Federal Assembly on December 17, 2004 1
Entered into force on 1 Er July 2005

(Status on 28 June 2005)

A. Letter from the European Community

Sir,

I have the honour to refer to the agreement between the European Community and the Swiss Confederation providing for measures equivalent to those laid down in Council Directive 2003 /48/EC on taxation of savings income in the form of Interest payments 2 This Agreement, which shall be ratified or approved by the Contracting Parties in accordance with their own procedures, shall be applied from a date determined in accordance with the procedure referred to in Art. 18, para. 2, of the agreement.

Art. 18, para. 2, provides that the Contracting Parties agree, by mutual agreement, at least six months before the date referred to in Art. 17, para. 2, of the agreement (i.e. 1 Er January 2005), if the condition referred to in s. 18, para. 1, of the agreement will be fulfilled. If the Contracting Parties do not decide that the condition will be fulfilled, they shall adopt by common accord a new date for the application of the agreement.

Under s. 18, para. 1, the application of the Agreement is conditional upon the adoption and implementation by the dependent or associated territories of the Member States referred to in the report of the Council (Economic and Fiscal Affairs) to the European Council of Santa Maria da Feira of 19 and 20 June 2000, as well as by the United States of America, Andorra, Liechtenstein, Monaco and San Marino, respectively, of measures identical or equivalent to those contained in the Directive or in the Agreement, with the exception of Art. 15 of the agreement, with the same implementation dates.

On the basis of the negotiations between the European Community and the Swiss Confederation, I understand that, in accordance with Art. 17, para. 2, of the agreement, the Swiss Confederation will only be able to apply the agreement from 1 Er July 2005, subject to the completion of the Swiss constitutional requirements on that date.

Thank you for confirming that you agree to the date of 1 Er July 2005 as the new date of application of the Agreement, in accordance with Art. 18, para. 2, of the agreement and that the Swiss Government will do everything in its power to ensure that this date is respected. I would also ask you to confirm that, on the basis of the information provided during the negotiations of 21 June 2004, and without prejudice to the following paragraph, the Swiss Confederation recognises that the conditions referred to in Art. 18, para. 1, will be completed.

I agree that Switzerland shall not be required to apply the provisions of the Agreement from 1 Er July 2005, if all EU Member States and each of the countries and territories mentioned in Art. 18, para. 1, of the agreement apply the measures of taxation of the savings referred to in that agreement from the same date. This same condition is also applicable for each EU Member State.

Please believe, Sir, in the assurance of my high regard.

Done at Luxembourg, 26 October 2004

For the

European Community:

Piet Hein Donner

António Vitorino

Letter from the Swiss Confederation

Sir,

I have the honour to acknowledge receipt of your current letter, which reads as follows:

" I have the honour to refer to the agreement between the European Community and the Swiss Confederation providing for measures equivalent to those laid down in Council Directive 2003 /48/EC on taxation of savings income in the form of Interest payments. This Agreement, which shall be ratified or approved by the Contracting Parties in accordance with their own procedures, shall be applied from a date determined in accordance with the procedure referred to in Art. 18, para. 2, of the agreement.

Art. 18, para. 2, provides that the Contracting Parties agree, by mutual agreement, at least six months before the date referred to in Art. 17, para. 2 of the agreement (i.e. 1 Er January 2005), if the condition referred to in s. 18, para. 1, of the agreement will be fulfilled. If the Contracting Parties do not decide that the condition will be fulfilled, they shall adopt by common accord a new date for the application of the agreement.

Under s. 18, para. 1, the application of the Agreement is conditional upon the adoption and implementation by the dependent or associated territories of the Member States referred to in the report of the Council (Economic and Fiscal Affairs) to the European Council of Santa Maria da Feira of 19 and 20 June 2000, as well as by the United States of America, Andorra, Liechtenstein, Monaco and San Marino, respectively, of measures identical or equivalent to those contained in the Directive or in the Agreement, with the exception of Art. 15 of the agreement, with the same implementation dates.

On the basis of the negotiations between the European Community and the Swiss Confederation, I understand that, in accordance with Art. 17, para. 2, of the agreement, the Swiss Confederation will only be able to apply the agreement from 1 Er July 2005, subject to the completion of the Swiss constitutional requirements on that date.

Thank you for confirming that you agree to the date of 1 Er July 2005 as the new date of application of the Agreement, in accordance with Art. 18, para. 2, of the agreement and that the Swiss Government will do everything in its power to ensure that this date is respected. I would also ask you to confirm that, on the basis of the information provided during the negotiations of 21 June 2004, and without prejudice to the following paragraph, the Swiss Confederation recognises that the conditions referred to in Art. 18, para. 1, will be completed.

I agree that Switzerland shall not be required to apply the provisions of the Agreement from 1 Er July 2005, if all EU Member States and each of the countries and territories mentioned in Art. 18, para. 1, of the agreement apply the measures of taxation of the savings referred to in that agreement from the same date. This same condition is also applicable for each EU Member State."

On the basis of the negotiations between the European Community and the Swiss Confederation, I can confirm that the Swiss Confederation accepts 1 Er July 2005 as the new date of application of the aforementioned agreement, subject to the completion of the Swiss constitutional requirements at that date. I confirm that the Swiss Government will do everything in its power to ensure that this date is respected.

I confirm that, subject to the technical verification by my services of the information provided during the negotiations of 21 June 2004 which I will confirm before the signature of the agreement on the basis of the final versions of the agreements The Swiss Confederation acknowledges that the conditions laid down in Art. 18, para. 1, shall be complied with, without prejudice to the provisions of the following paragraph.

I agree that Switzerland shall not be required to apply the provisions of the Agreement from 1 Er July 2005, if all EU Member States and each of the countries and territories mentioned in Art. 18, para. 1, of the agreement apply the measures of taxation of the savings referred to in that agreement from the same date. I accept that this same condition is also applicable to each EU Member State.

Please believe, Sir, in the assurance of my high regard.

Done at Luxembourg on 26 October 2004

For the

Swiss Confederation:

Micheline Calmy-Rey

Joseph Deiss


RO 2005 2593 ; FF 2004 5593


1 Art. 1 al. 1 let. B of the AF of 17 Dec. 2004 ( RO 2005 2557 )
2 RS 0.641.926.81


State 11. July 2006