Revised Indo-Swiss taxation treaty comes into effect.

The amended Indo-Swiss taxation treaty has came into effect, a development that will allow India to seek specific information on black money and tax evasion cases dating back to January 1, 2011.

The revised taxation pact between the two countries came into force yesterday, at a time when the black money issue has triggered an intense political debate in India.

Senior BJP leader L K Advani has said that he would highlight the issue during his 'Jan Chetna Yatra', starting today.

The Swiss Federal Department of Finance yesterday said the revised double taxation agreement with India in the area of taxes on income and capital entered into force on Monday.

"It contains provisions on the exchange of information in accordance with international standards applicable at present," it said in a statement.

The treaty would be applicable in Switzerland on income originating in tax years starting on or after January 1, 2012.

Exchange of information under revised tax treaty expands access to specific taxpayer data for cross-border tax investigations. The revised double taxation agreement between India and Switzerland entered into force and includes exchange of information provisions in accordance with international standards, enabling requests for specific taxpayer information for tax evasion and undisclosed foreign asset investigations; Switzerland will apply the treaty to income arising in tax years beginning on or after the treaty's specified tax-year commencement.