India can get information on secret bank accounts from Swiss authorities for cases dating from January 2011, once the revised taxation treaty between the two countries is ratified by the Switzerland Parliament.
“In this case, because you (India) wants to find all the tax evaders… I think we have conceded in the negotiation of DTAA, that India will get information effective from January 1, 2011,” Swiss Ambassador to India Philippe Welti told PTI.
“It was negotiated and approved by both Indian and Swiss governments,” he said.
The revised Double Taxation Avoidance Agreement (DTAA) between India and Switzerland is awaiting ratification from the Swiss Parliament, which is expected to happen by end of this year.
Generally, bilateral taxation agreements do not have provisions for getting information on a retrospective basis, but in this case, both governments finalised the same after negotiations.
