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    Double taxation between Turkey and Swiss to end

    Hurriyet English with wires
    21.05.2008 - 15:41 | Son Güncelleme:

    The double taxation, seen as a problem between Turkey and Switzerland, will end with an agreement to be signed in the Swiss capital, Bern on Thursday, the Turkish Finance Ministry stated on Wednesday.

    Turkey and Switzerland will sign an agreement to end to double taxation, in the Swiss capital.


    The agreement targets eliminating the problems in economic and commercial relations caused by double taxation between the two countries, as well as make both countries more attractive for mutual investments.


    The agreement is expected to provide a healthier environment for the activities of Turkish businessmen and speed up investments within a short period.


    The Turkish Finance Ministry stated on Wednesday that Turkish Finance Minister Kemal Unakitan and Swiss Finance Department Chief Hans-Rudolf Merz would sign the agreement.


    The trade volume between Turkey and Switzerland rose to $6.2 billion in 2007. While Turkey's exports to Switzerland reached $935 million the same year, imports from this country are around $5.2 billion.


    During the first three months of 2008, the trade volume reached $2.6 billion with a 135 percent rise over the same period of 2007.


    There are currently 418 Swiss firms operating in Turkey and their total capital is nearly $4.4 billion. The total amount of investments of the 50 Turkish firms operating in Switzerland has reached $115 million.


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