To increase the attraction of Switzerland as a holding location and a business headquarters site, various favorable tax reform measures were adopted by the Swiss parliament in October 1997. The most significant measures affect the corporate income and capital tax, capital gains and deferral of taxes, and the stamp tax. On October 2, 1996, a new income tax treaty between the US and Switzerland was signed, replacing the antiquated treaty from 1951. The new treaty in general conforms to the OECD Model Treaty.