Switzerland to Assist India on Matters of Tax Evasion, Black Money

The Swiss government on Friday said the practices with regard to “stolen data are to be eased.”

• Switzerland on Friday said it will relax norms for providing information to foreign nations seeking banking details about their citizens on the basis of ‘stolen data’.
  This move would benefit India in its fight against the black money menace.
  
  

• In this regard, the Federal Council on Friday adopted the dispatch on amending Tax Administrative Assistance Act. The Bill is expected to be discussed by the Swiss Parliament this year.
  
  

• The Swiss government emphasised it intends to respond to future requests that are based on data obtained by the requesting state from another state through normal administrative assistance channels or from public sources.

(With inputs from PTI).