Black money: India to begin talks with Switzerland in Dec

New Delhi, Aug 25 (PTI) In the midst of a row over
tainted money stashed in banks in Switzerland, Indian
government Tuesday said it will begin talks with that country
in December for amending the relevant treaty and it was not
interested in a "roving inquiry".

"We are pursuing with the Swiss authorities and after
our persuasion they have agreed to discuss and begin the
negotiations on the amendment of the avoidance of double
taxation agreement in respect of the exchange of information.

"That first round of talks will take place sometime in
December," India's Finance Minister Pranab Mukherjee said at a
panel discussion organised by ET-Now news channel.

The Swiss Banks Association had said Swiss law and
even OECD's Model Tax Convention do not permit fishing
expeditions, in other words, the indiscriminate trawling
through bank accounts in the hope of finding something
interesting.

"This means that India cannot simply throw its
telephone book at Switzerland and ask if any of these people
have a bank account here," SBA Head of International
Communications James Nason had told PTI.

"We are fully aware of and we have no intention of
having any roving enquiry," Mukherjee said, adding that it
would pursue the matter on the basis of specific information
to help the tax authorities nail the defaulters.

Switzerland had last week reached an agreement with
the US to give that country's Internal Revenue Service details
of 4,450 clients who Washington suspected of evading taxes.
(More) PTI RAM
ANU


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