Switzerland to share tax information with India:Swiss official

Davos, Jan 29 (PTI) Dismissing the perception that
Switzerland is a tax haven, a senior Swiss government official
Saturday expressed hope that the revised tax avoidance treaty
with India will be ratified during the year, following which
Swiss authorities would provide administrative assistance to
India to deal with cases of tax evasion.
"We have recently signed an agreement with India, which
is now in the Parliament in order to get rectified.
And then, we will concretely take steps against tax
evasion and as soon as this agreement is enforced... both
sides can also grant administrative assistance (to deal with )
tax evasion," Switzerland Federal Department of Finance State
Secretary Miachael Ambuhl said in an interview to private news
channel NDTV.
India and Switzerland in August last year signed a
revised Double Tax avoidance Agreement (DTAA) that will enable
exchange of information on tax evaders, considered a must for
getting details on unaccounted funds stashed away by Indians
in Swiss banks. The agreement, however, is yet to be ratified
by the Switzerland Parliament.
"This perception is wrong. Switzerland is not a tax
haven...Switzerland has not given tax refuge to people who
want to hide their money," Ambuhl said, adding the agreement
hopefully will be ratified this year.
"We want to have confidentiality for the bank clients but
we don't want to protect them from paying taxes. There is no
such thing that in Switzerland you can avoid paying your
taxes," he added.
He further said that if India authorities would get the
information, provided they are able to produce evidence of tax
evasion.
"If Indian authorities can show that there is evidence
that people have evaded there money, then the answer is 'yes'.
If Indian authorities can give evidence that for the person X
or Y, there is evidence that they have evaded their taxes in
Switzerland, we will grant administrative assistance", he
added.
On whether the treaty would bring about substantial
change, Ambuhl said, "It will not change everything. We have
already got a good legal basis to grant judicial and
administrative assistance, but as soon as this commences in
force, then it will become even better."