The Finance Minister Mr. Pranab Mukherjee says India is keen to have a comprehensive double taxation treaty with Switzerland to check the stashing of money by Indians in banks there but ruled out any voluntary disclosure scheme for such individuals. He said in New Delhi that all the relevant clauses of the agreement will have to be on par with the model code of OECD, which both Swiss and Indian authorities have accepted. Mr. Mukherjee said that full-fledged discussions will begin on the agreement in December. Asked about the various figures floating about the money stashed abroad and whether the government had any assessment on that, he said that the government had made an exercise in 1985 and after that nothing of that sort has been done.
News On AIR | October 25, 2009 6:38 PM
India keen for treaty to check Black money in Swiss banks :FM