Move comes at a time when the issue of black money stashed in Swiss banks has become a major concern in India with political parties and civil society taking up the matter.
Finance Minister Pranab Mukherjee on Friday said the agreement signed with Switzerland for sharing banking information on demand is likely to come into force by September.
For starters, as Subramanian Swamy suggested, how about putting pressure on Parliament to pass a resolution concerning all PEPs to retrieve our wealth through the RIAA?
The amendments to the treaty will now be placed before the Swiss Parliament for final approval.
The India government asked the Swiss government to expedite the ratification of the Double Taxation Avoidance Agreement (DTAA) signed between the two countries in August 2010, but the Swiss Parliament will take time to ratify the tax treaty.
Putting an end to months of uncertainty, the Swiss Parliament approved the UBS deal with the US, paving the way for handing over account details of 4,450 alleged tax evaders to the US authorities.
Move will be a setback for India which wants information on black money probe based on leaked data
Ahead of next week's crucial meeting of the Nuclear Suppliers Group, a top Swiss lawmaker has said his government will 'most likely' support a waiver for India at the 45-nation grouping."The Indo-US nuclear deal is important for India's energy security and I think the Swiss government will most likely support the waiver for New Delhi at the NSG meet," Speaker of the Upper House of Swiss Parliament Christoffel Brandil told PTI.
Denmark's Superliga to resume on May 28 says Danish League Association
President A P J Abdul on Friday made a strong pitch for India getting a permanent membership of an enlarged United Nations Security Council.
Switzerland has come under international pressure, including from India, amid concerns that black money is stashed in Swiss banks.
Switzerland has been facing international pressure as countries step up efforts to curb illicit fund flows.
Experts of both the countries will meet by mid-September 2016 to further discuss the modalities for the reciprocal bilateral implementation of AEOI between India and Switzerland with a view to reaching an agreement at the earliest, possibly by the end of the year
India has been probing hundreds of black money cases.
Under pressure from India and other countries, Switzerland has made key changes in its local laws governing assistance to foreign nations in their pursuit of black money allegedly stashed in Swiss banks.
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