Swiss panel for new tax treaty with India

The amendments to the treaty will now be placed before the Swiss Parliament for final approval. Once the revised treaty gets the approval, Switzerland will provide administrative assistance to India to track cases of tax evasion and tax fraud.

The development comes at a time when the Indian government is under mounting pressure from the Opposition and the Supreme Court to reveal the names of individuals who have stashed away black money overseas.

Swiss Parliament’s Committee for Economic Affairs and Taxes said it has received the India-Switzerland double taxation treaty document and forwarded it to the National Council. The body drafts advisory opinions on messages, parliamentary initiatives, and reports concerning economic and fiscal issues.

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