SUMMARY LIMITED TREATY BENEFITS More than 70% of the aggregate vote and value of all shares is ultimately owned by qualified persons and persons which are resident of an EU, EEA or NAFTA member State With regards to shares ultimately owned by residents of an EU,EEA or NAFTA member State, there is a tax treaty between the State of residence of the recipient and USA The recipient of the income is entitled to all benefits of the previously mentioned treaty The recipient of the income would qualify for total treaty benefits under the LOB provision in the CH-USA tax treaty if it were applicable The tax at source under the treaty between the State of residence of the recipient and USA is at least as low under the CH-USA tax treaty In the preceding fiscal period, less than 50% of the company's gross income was used to make deductible payments to persons which are not qualified persons TRIANGULAR CASES 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 limited treaty protection is granted
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