INDIA, SWITZERLAND AGREED TO WIDENING THE AMBIT OF TAX TREATY

The government of India has concluded the renegotiation for widening the ambit of its tax treaty with Switzerland to access information on swiss bank accounts, a big step towards tracing Indian money stashed away overseas. The tax treaty has been amended on the lines of the OECD Model Tax Convention, which means it will not provide for roving inquiries, or fishing expeditions as
they are commonly called.