Black money: First round of India-Swiss talks in Geneva

Last Updated: Monday, October 26, 2009 - 20:41

Jalandhar: Indian and Swiss officials will meet in Geneva in December for talks on ways to get information on flow of black money from here into that country, a senior tax authority said on Monday.

"We are going to meet the Swiss authorities at Geneva in
December this year to discuss the issue of alleged black money
deposited in Swiss banks and look for how the information
could be provided to India through review of double taxation
treaty", Central Board of Direct Taxes (CBDT) Chairman S S N
Murthy told reporters here.

A review and upgrade of the Double Taxation Avoidance
Treaty between the two countries could help India seek
information regarding black money.

In August this year, Switzerland agreed to give details
of 4,450 numbered accounts to US revenue authorities after
they established that tax evaders had parked money in Swiss
banks.

To a question on the possibility of Voluntary Disclosure
Scheme (VDS), Moorthy said: "As far as I am concerned, I am
not aware of any such scheme (VDS) in the pipeline."

Bureau Report



First Published: Monday, October 26, 2009 - 20:41
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