New Delhi: The government on Tuesday said a team
of officials will visit Switzerland on November 10 or 11 to
hold talks with authorities there on amending a taxation
treaty between the two countries.
The proposed discussions on renegotiating the Double
Taxation Avoidance Treaty Agreement (DTAA) comes in the
backdrop of allegations that Indians have stashed away black
money in Swiss banks.
"A team is going on November 10 or 11. We want to amend
the DTAA not only with Switzerland but also with other
countries.
"A clause will be there (in the amended treaty) seeking
information on tax," Finance Minister Pranab Mukherjee told
reporters here, when asked about the planned talks with
Switzerland on DTAA.
"I will not be going as it is the job of officers," he
added.
Last week, Mukherjee had said the talks have been advanced
by one month to the second week of November. Earlier, the
discussions were scheduled for December.
The renegotiation of the treaty would be done under the
OECD Model Tax Convention.
The Organisation for Economic Co-operation and Development
(OECD) -- a grouping of mainly rich nations -- sets the
international tax standards. Article 26 of the OECD Model
Convention on Income and Capital, covers "tax of every kind
and description" and allows for exchange of tax-related
information between two countries.
Bureau Report
First Published: Tuesday, November 03, 2009, 23:02