Swiss Bank Data Information
The Swiss Government official today has claimed that the tax avoidance treaty with India will be looked into. This will allow Swiss Government officials to provide financial assistance to India to deal with the tax evasion cases in the country.
"We have recently signed an agreement with India, which is now in the Parliament in order to get rectified. 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 Michael Ambuhl said in an interview to private news channel NDTV.
India has signed a revised Double Tax avoidance Agreement (DTAA) that will provide the information regarding the Indian Citizen’s account information. This would help the Indian Government to know the amount of black money kept over there. This bill is yet to be ratifies by the Swiss Parliament.
Ambuhl said that the bill would be passed this year. He also stated that the Indians kept the money in their own wish and the Swiss Government is not responsible for their action.
"We want to have confidentiality for the bank clients but we don't want to protect them from paying taxes. There is no such thing that in Switzerland you can avoid paying your taxes," he added.