Revised Indo-Swiss taxation treaty comes into effect

The amended Indo-Swiss taxation treaty has came into effect, a development that will allow India to seek specific information on black money and tax evasion cases dating back to January 1, 2011.

The revised taxation pact between the two countries came into force yesterday, at a time when the black money issue has triggered an intense political debate in India.

Senior BJP leader L K Advani has said that he would highlight the issue during his ‘Jan Chetna Yatra’, starting today.

The Swiss Federal Department of Finance yesterday said the revised double taxation agreement with India in the area of taxes on income and capital entered into force on Monday.

“It contains provisions on the exchange of information in accordance with international standards applicable at present,” it said in a statement.

The treaty would be applicable in Switzerland on income originating in tax years starting on or after January 1, 2012.

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