Citing confidentiality, GoI declines to share black money details received from Switzerland

NEW DELHI: The government of India (Go) has declined to share information on black money cases received from Switzerland, citing confidentiality.
Replying to an RTI query, the finance ministry said India and Switzerland share information on black money on a case to case basis as per the investigations being carried out. It is an ongoing process, it added.
“The information shared by Switzerland on black money cases is governed by confidentiality provisions,” it said in reply to the RTI application filed by this PTI journalist.
The ministry was asked to provide details of black money cases received from Switzerland, including the names of firms and individuals, besides the details of action taken on the information.
India and Switzerland are signatories to Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC). Indian and Switzerland have, for automatic sharing of financial account information between the two countries, signed a joint declaration on November 22, 2016, it said.