To Bring Back Black Money, PM Modi May Visit Switzerland

| } May 29 , 2016 , 12:28 IST
[caption id="attachment_168128" align="aligncenter" width="700"](Image: IANS) (Image: IANS)[/caption] In order to deliver on his promise to bring back black money, Prime Minister Narendra Modi may soon visit Switzerland. According to TOI, top level Indian and Swiss officials are in touch to facilitate the visit and PM Modi will land in the Swiss capital Bern on June 6 on his way to Washington, DC from Doha. The report further adds that during this visit the Prime Minister is likely to have a bilateral meeting with Swiss President Johann Schneider-Ammann. On agenda will be an arrangement which the two countries are looking to finalise for automatic exchange of information on tax-related issues. Last Month, Swiss Ambassador to India Linus von Castelmur had said automatic exchange of tax information between India and Switzerland is expected to happen "rather soon". As part of global efforts to curb flow of illegal funds in the financial system, Switzerland has already signed an agreement for introduction of the automatic exchange of information (AEOI) on cross-border tax evasion with several other countries including Canada, Japan, Australia, South Korea and EU.