Swiss money trail: From gold and diamond to stocks and bitcoins

Jun 29 2014, 15:11 IST
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At a time when Switzerland has been facing intense pressure to act on the alleged use of Swiss banks for stashing black money by Indians. At a time when Switzerland has been facing intense pressure to act on the alleged use of Swiss banks for stashing black money by Indians.
SummaryAs Switzerland commits to cooperate in India's fight against black money...

automatic exchange of information. Like India, Switzerland has endorsed the declaration on automatic exchange of information..." Tuor said.

On specific query that whether India would benefit, the spokesperson said that Switzerland would first wait until the new global standard on automatic exchange in tax matters has been defined by the OECD and accepted by the G20.

"Secondly, the Swiss government will propose how to implement the new standard in Switzerland. Thirdly, the Swiss parliament will decide on the government's proposals... I can't give you any further details," Tuor said.

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