January 18, 2011 8:53 PM

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India in advanced stage of inking tax information exchange treaties

The government on Tuesday said it is at an advanced stage of inking tax information exchange treaties with some countries. CBDT Chairman Sudhir Chandra said this move will help speed up its efforts to trace black money stashed in foreign banks and help check tax evasion. He said the government is in negotiations with 22 countries to ink the Tax Information Exchange Agreements to obtain tax related information. Mr Chandra informed that agreements with three countries are at an advanced stage.He said the revised tax exchange treaty with Switzerland has been ratified in the first stage by the Swiss government and it will now be placed before the Swiss Parliament for final approval.

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