SWITZERLAND has always been in the limelight for India. Indian tax
officials and the government have making the best efforts to deal with the issue
of black money laundering and the DTAA's and other tax treaties being
implemented. Amongst all this robust activity the OECDs recent report on
Switzerland's implementation of the Foreign Bribery Law brings with it a breath
of fresh air.
The OECD has
congratulated Switzerland on its commitment to the fight against foreign bribery
and the conviction of a company for the same. However, OECD is concerned that
there has been only one other conviction, of an individual, for foreign bribery
since Switzerland enacted the offence in 2000. It has advised the country to
make efforts to ensure that the enforcement of the Foreign Bribery Law is
appropriate and is able to serve its purpose as intended. The OECD Working Group
on Bribery has completed its evaluation of Switzerland's implementation of the
Convention on Combating Bribery of Foreign Public Officials in International
Business Transactions and related instruments as a result of which it has made
recommendations to the country for better law enforcement. Switzerland's efforts
to combat foreign bribery in particular its proactive policy on the confiscation
of the bribe and proceeds of foreign bribery, as well as the restitution of
illicit assets that are held in Switzerland has been applauded by the OECD.
Switzerland has
been suggested the following by the working group of the OECD
++ Equip law
enforcement authorities by way of specialised training on the enforcement of
corporate criminal liability;
++ Establish
systematic mechanisms allowing for the exclusion of companies convicted of
corruption from public procurement and official development assistance
contracts;
++ Review policy
concerning small facilitation payments to foreign public officials;
++ Raise awareness
on the risks of foreign bribery that is even more targeted towards Swiss SMEs
that are active in foreign markets;
++ Adopt a
regulatory framework to protect whistleblowers in the private sector that report
in good faith and on reasonable grounds suspected acts of foreign bribery
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