Indians having black money in Swiss : Arun Jaitley

Jan 22 India has said that it has independent evidence of Indians having black money in Swiss accounts and Switzerland has promised expeditious sharing of information in this regard. Finance Minister Arun Jaitley said this after meeting with his Swiss counterpart Eveline Widmer-Schlumpf on the sidelines of the World Economic Forum (WEF) meet in Davos yesterday. Mr Jaitley said, he discussed with Ms. Widmer-Schlumpf, the parameters based on which Switzerland can provide details on unaccounted money parked in their banks once independent evidence is furnished. In October last year, India and Switzerland had inked a joint statement of understanding with regard to co-operation on tax matters. However, Switzerland has a clear position that the information would not be shared with another country, but such requests would be looked into in case of independent evidence being made available. On ways to prevent the menace of black money in the future, Mr Jaitley said the global community is moving towards automatic exchange of information. He said, India will sign bilateral pacts with Switzerland and other nations in this regard. Mr Jaitley also said that the Swiss Minister also discussed economic co-operation.