India, Switzerland Agree to Change Tax Pact
Sept. 1 – Switzerland and India have agreed to make changes to their double taxation agreement (DTA).
The revisions will allow Indian authorities more access to specific information that will serve to cut down tax evasion. “The revised DTA contains provisions on the exchange of information in accordance with the Organization for Economic Cooperation and Development (OECD) standard, which were negotiated in line with the parameters decided by the Federal Council,” according to an official release from the Swiss Embassy.
India recognizes DTAs with 79 countries and has been actively revising existing agreements with other countries to weed out tax evasion.
Switzerland has also been making changes to its global tax pacts to bring them in line with OECD’s Model Tax Convention.
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