SUMMARY RESIDENT PERSON PREDOMINANT INTEREST TEST The ultimate beneficial owners are not qualified persons in the aggregate of a predominant interest in the form of participation or otherwise STOCK EXCHANGE TEST The principal class of shares is not listed or is not regularly and primarly traded on one or more recognized stock exchanges One or more companies which meet the direct stock exchange test are the ultimate beneficial owners of a predominant interest in the company TRIANGULAR CASES The Swiss enterprise derives income from USA which is attributable to a permanent establishment in a third jurisdiction The total tax liability in CH and the third jurisdiction is 60% or more of the tax liability that would have been payable in CH, if the income was earned in CH by the enterprise and were not attributable to the permanent establishment in the third jurisdiction Under these circumstances treaty protection is granted
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