India, Switzerland ink Double Taxation Avoidance Agreement

     India and Switzerland on Monday signed a protocol amending the existing Double Taxation Avoidance Agreement between the two nations, which would help the government obtain information on money stashed away in Swiss banks. The revised pact was signed in the presence of Finance Minister Pranab Mukherjee and the visiting Swiss Foreign Minister Micheline Calmy-Rey. "The revised Double Taxation Agreement contains provisions on the exchange of information in accordance with the OECD standard, which were negotiated in line with the parameters decided by the (Swiss) Federal Council," the NDTV quoted Swiss Federal Department of Finance (FDF) as saying in a statement. Earlier today, Micheline Calmy-Rey met Union Environment and Forest Minister Jairam Ramesh here. Calmy-Rey discussed the flash flood tragedy in Leh with Ramesh. Calmy-Rey has been a member of the Swiss Federal Council since 2002, and was President of the Confederation in 2007.

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