Tax pact will help India trace black money: Swiss govt

As India and Switzerland prepare to renegotiate the Double Taxation Avoidance Agreement,the Swiss government has said it was confident that the pact would be finalised by next year and enable New Delhi to seek details about black money stashed in banks there.

“Yes” was the answer of Switzerland’s vice-president Doris Leuthard when asked whether renegotiating the treaty,which was signed in 1995,would enable India seek details of specific cases where tax evaders’ money was lying in Swiss banks.

“I think next year this treaty can be accomplished,” Leuthard,who was here for an informal WTO ministerial,said.