India has been found to be “fully compliant”, while Switzerland is yet to be rated as the country has just signed a global convention on automatic exchange of information on tax issues.
In India, Switzerland has been widely perceived as a favoured safe haven for alleged black money, while Mauritius in recent years has also come to be known as a major hub for flow of untaxed funds.
According to the list by Paris-based Organisation for Economic Cooperation and Development, 18 jurisdictions are rated “compliant”, 26 “largely compliant”, two “partially compliant” and four “non-compliant”.