(a) whether the Government of Switzerland has signed/agreed to sign the Multilateral
Convention on Mutual Administrative Assistance in tax matters;
(b) if so, the details thereof; and
(c) the likely impact of the said move on the efforts of Indian Government to get access
to information on the black money stashed in Swiss banks?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI J D SEELAM)
(a) Yes, Madam.
(b) Switzerland has signed the Multilateral Convention on Mutual Administrative Assistance
in tax matters (MAC) on the 15th October, 2013 but has not yet ratified it.
(c) Under the MAC, as also as per existing Double Taxation Avoidance Agreement between India
and Switzerland as amended in 2011, Switzerland is obliged to provide information if a specific
request is made by the Indian tax authorities, including banking information and information that
has no domestic interest.