Swiss seek `concrete` info from India for tracing black money

New Delhi, Sep 3 (PTI) Switzerland Thursday said it
will look into India's request for tracing black money stashed
in tax havens in that country if "concrete information" is
provided by New Delhi in specific cases.

"We follow international norms. If you have concrete
information like name of the bank and other specific details,
then there should be no problem," Vice President of
Switzerland Doris Leuthard told PTI here.

Leuthard, who is also Minister of Economic Affairs,
said India will have to apply through legal procedures based
on the existing double taxation avoidance treaty which
was signed in 1995.

"You can apply through the legal procedure based on
the existing treaties," she said.

Leuthard, who is here to participate in talks on WTO
ministerial meeting, said the secrecy shield was created
by the Swiss banks to protect their interests from other
regimes in Europe.

The Swiss Bankers Association (SBA) last month had
said that India is not welcome there on a name-fishing
expedition. (More) PTI