NEW DELHI,
Sept. 22 (Xinhua) -- Swiss Ambassador to India Philippe Welti will write a note
to the Indian government that his country is ready to ratify the amended double
taxation avoidance treaty and share tax information with India, which could
facilitate probe into Indian black money in Swiss banks, local daily The
Hindustan Times reported Thursday.
Once the
two governments decide the date of ratification, India can request the Swiss
government for release of bank data, if the Indian side provides names of the
persons who have accounts in Swiss banks, Welti told the newspaper.
Such a
treaty will be enforceable on Indian black money in Swiss banks after Jan. 1,
2011. It will include cooperation in investigating tax evasion and fraud, while
information requirements by the Swiss side for looking into bank data have been
reduced, according to the report.
Billions of
U.S. dollars of black money from India are reportedly stashed in Swiss banks,
according to local media reports.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.