Switzerland to Share Tax Info with India

January 29th, 2011
in News, Banking

Alps The Times of India:  Dismissing the perception that Switzerland is a tax haven, a senior Swiss government official on Saturday expressed hope that the revised tax avoidance treaty with India will be ratified during the year, following which Swiss authorities would provide administrative assistance to India to deal with cases of tax evasion.

"We have recently signed an agreement with India, which is now in the Parliament in order to get rectified.

Follow up:

And then, we will concretely take steps against tax evasion and as soon as this agreement is enforced... both sides can also grant administrative assistance (to deal with ) tax evasion," Switzerland Federal Department of Finance State Secretary Miachael Ambuhl said in an interview to a private news channel.

India and Switzerland in August last year signed a revised Double Tax avoidance Agreement (DTAA) that will enable exchange of information on tax evaders, considered a must for getting details on unaccounted funds stashed away by Indians in Swiss banks. The agreement, however, is yet to be ratified by the Switzerland Parliament.  Read more at The Times of India.....









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