 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. |
Highlights from the local media of Afghanistan, Bangladesh, Bhutan, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka June 27th, 2016 | Volume: 2 - 17/6 TOP STORIES Afghanistan Still World’s Largest Opium Producer by Far: Report Daily Outlook Afghanistan| 27 th June Afghanistan is by a long way still the world's largest opium producer, accounting for some 70 percent (3,300 tons) of global opium production, according to the United Nations World Drug Report of 2016.Myanmar is the second largest producer of the drug at 14 per cent (650 tons) of global production. According to the UN report, the total value of the illicit opiate economy in Afghanistan was $2.8 billion USD in 2014 — equivalent to 13 percent of the country's gross domestic product (GDP). Maiden joint meeting of Nepal-India EPG next week The Himalayan Times| 26 th June The first joint meeting of the Eminent Persons Group on Nepal-India Relations (EPG-NIR) would be held in Kathmandu on coming Jul...
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