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ii) The Swiss Federal Tax Administration has agreed that their competent authority would assist India in obtaining confirmation of genuineness of bank documents on requests by the Indian side and also swiftly provide information on requests relating to non-banking information.
In Mayof this year the media reported thatthe Swiss Federal Tax Administration (FTA) had ordered Julius Baer to submit account information based on the double taxation agreement between Switzerland and the US.
A spokesperson for the Swiss Federal Tax Administration has confirmed that the US government made such a request.
In addition to the cantonal/communal privileges, the Swiss Federal Tax Administration (SFTA) has regularly accepted a lump-sum expense deduction on certain business activities (reinvoicing in particular).