Mossack Fonseca, Switzerland: Double Tax Agreement with Argentina

On October 29, 2015, the Swiss State Secretariat for International Financial Matters announced that the double taxation agreement (DTA) with respect to taxes on income and capital between Switzerland and Argentina will enter into force on November 27, 2015. It replaces the agreement of 1997 and is in line with the current international standard on the exchange of information.

The purpose of the new agreement is the avoidance of double taxation with respect to taxes on income and on capital, particularly those on dividends, interest and royalty payments. It adopts the majority of the provisions of the former agreement and complies with the current international standard on the exchange of information upon request. The new agreement will be applicable from January 1, 2016, with the exception of taxes withheld at source, for which relief will already be applied in 2015 according to the agreement.

The new agreement sets the maximum withholding tax rate for dividends at 15 percent, and provides for a ten percent rate where the beneficial owner is a company that holds directly at least 25 percent of the capital of the company paying the dividends. The withholding tax rate for interest payments is capped at 12 percent. The maximum withholding tax rate for royalties is 15 percent, with reduced rates of ten, five, and three percent applicable in certain circumstances.

Who is Mossack Fonseca?

Meir Ezra Genius Tour - Instant Happiness

You can feel happier in just one minute by first understanding a few important facts.

"Happiness could be defined as the emotion of progress toward desirable goals. There is an instant of contemplation* of the last goal in which one is content. But contentment becomes boredom immediately that new goals do not come to view. There is no more unhappy thing than a man who has accomplished all his ends in life." -- L. Ron Hubbard(*contemplation = thoughtful observation; meditation)

Let's examine three parts of this definition.

1. "There is an instant of contemplation of the last goal in which one is content."

What was the last goal you reached? Do you remember that feeling of contentment?

For example, how did you feel right after your wedding? When you got your first job? When you graduated from school?

2. "But contentment becomes boredom immediately that new goals do not come to view."

For example, planning a vacation is exciting. But toward the end of a vacation many people are bored as they no longer have a goal.

Arguments during honeymoons are common, if the newlyweds do not set goals for their marriage.

Planning your retirement and the first day of retirement is a thrill. But the joy of freedom quickly turns to boredom and early death if you do not work on new goals.

3. "Happiness could be defined as the emotion of progress toward desirable goals."

Making yourself happy is easy! Simply chose desirable goals and make progress toward them.

Three Steps to Feeling Happier, Right Now

1. Select a desirable goal. If you don't have a desirable goal, make one up. What do you want?

2. Write down ONE SINGLE THING you can do right now toward this goal. It has to be an action step. Not thinking about it or talking about it. Actual physical motion.

3. Do it! Take that one step right now. Make some small, but real progress. You might be surprised at how easy it is.

As soon as you take this one step, you'll feel instant happiness.

Try it!