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Swiss govt gives in, relaxes rules in black money cases

Now, individuals a/c holders, accused in tax crime cases, won't get prior information before any details about them are shared

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Facing global pressure, Switzerland today decided to relax a key legislation to make it easier to extend help to foreign countries, including India, probing cases of suspected tax crimes.   The proposed revision in Switzerland's Tax Administrative Assistance Act would do away with an existing requirement where all individuals are given prior information before any details about them are shared with a foreign jurisdiction for alleged tax crimes.   Besides, the amendment will make it easier for Swiss authorities to extend help in matters related to 'group ...