In a significant development, Switzerland has taken a unilateral decision to revoke the 'Most Favoured Nation' status accorded to India under the Double Taxation Avoidance Agreement (DTAA) treaty. This move will have a major impact on Indian businesses operating in Switzerland as well as Swiss investments in India. The decision was made by the Swiss finance department in response to the Supreme Court of India's 2023 ruling, stating that the MFN clause between two nations does not automatically apply when a country joins the OECD. This raises questions on the interpretation and application of the MFN clause in tax treaties under the OECD, which is known for shaping international policies for better economic and social outcomes.