Par panel for early revision of Indo-Mauritius tax treaty
Concerned over delay in conclusion of revised tax treaty with Mauritius, a Parliamentary Panel Tuesday said the Finance Ministry should vigorously pursue the matter in coordination with External Affairs Ministry.
New Delhi: Concerned over delay in conclusion of revised tax treaty with Mauritius, a Parliamentary Panel Tuesday said the Finance Ministry should vigorously pursue the matter in coordination with External Affairs Ministry.
"The Committee hopes and trusts that a conclusive decision will be taken on the matter (revision of DTAA with Mauritius) without further loss of time," said a report of the Committee on Government Assurances tabled in Parliament.
It said the Joint Working Group (JWG) set up in 2006 to formulate the revised Double Taxation Avoidance Agreement (DTAA) has held seven rounds of meetings but could not reach any conclusion.
"It appears to the Committee that seven rounds of discussion held so far and the constitutions of JWG have failed miserably in achieving the target... This also goes to show their lack of will and lackadaisical approach on the issue," the report said.
The government has been seeking to revise the DTAA with Mauritius with a view to prevent misuse of the tax treaty.
The Committee suggested that the matter should be pursued vigorously in coordination with the Ministry of External Affairs.
On the issue of black money, the Committee said the government should expeditiously examine the report by three agencies -- NIPFP, NIFM and NCAER-- and implement the steps to check the menace.
The government had authorised the three institutes to study the quantum of unaccounted income and wealth both within and outside the country.