Indian and Swiss Governments Hunting Undeclared Assets

India and Switzerland cooperating on tax issues

Switzerland's cooperation with India on the fight against so called black money continues and cites regular contacts between officials from the two sides.

When it comes to cooperation on tax matters, India is one of the four most important partners for Switzerland. The others are the U.S., France and Italy. India and Switzerland have been working closely on mutual administrative assistance on tax matters and both sides have expressed their willingness to increase the cooperation.  

The Swiss government has said there has been a regular dialogue at various levels since 2014. These dialogues have contributed to better understanding and significant progress in cooperation on tax matters, the European nation said in the latest report on «International Financial and Tax Matters».

Ministerial Level Efforts

Prepared by the Swiss Federal Department of Finance, the report provides information on activities in the areas of financial market regulation, engagement in international financial bodies and international tax policy in 2015. It also gives an outlook on upcoming challenges. The report was approved by the Swiss Federal Council on January 27.

Indian Finance Minister Arun Jaitley and his Swiss counterpart Ueli Maurer met on the sidelines of the recent World Economic Forum (WEF) annual meeting at Davos. Separately, Jaitley and Maurer made it clear that both the countries are willing to step up their cooperation on tax matters.

At a Good Level

Maurer said the country's cooperation on tax matters with India in terms of sharing information on suspected black money cases would continue at "a good level".

On whether there could be a greater cooperation on information exchange in tax matters, «We have already agreed on more cooperation and this is working well and should continue,» Maurer said.

 

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