Steps to unearth black money deposited in foreign countries:PM

New Delhi, Mar 5 (PTI) In a bid to unearth black money
deposited in foreign countries, Indian government has
identified 20 countries to have agreements on exchange of
information and assistance in this regard, Prime Minister
Manmohan Singh said Friday.

Referring to Bhartiya Janata Party leader L K Advani for
raising the issue on money deposited abroad, Singh said, "20
countries and jurisdictions have been prioritised for entering
into agreements regarding exchange of information and
assistance in the collection of taxes."
Replying to a debate on the Motion of Thanks on the
President's address in Lok Sabha, the Lower House, he said
negotiations have been completed with the Bahamas and Bermuda
and "steps are being taken for signing of agreements".
The government has also approached Switzerland for
"renegotiation of our tax treaty so that we can have access to
bank information", Singh said.
Noting that negotiations with Switzerland were held in
November 2009, he said "the matter is being pursued for
finalising a new protocol through which we will be able to
obtain information in specific cases."
The Prime Minister said India was an active participant in
global fora for improving transparency and exchange of
information on tax matters. PTI ARC
KAB


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