No proposal for volunatary disclosure of the Black money stashed in Swiss banks: Pranab Mukherjee
merisarkar news service
New Delhi, October 26, 2009
Finance Minister Pranab Mukherjee has sain on Sunday that there is no proposal before the government to allow voluntary disclosure of Black money to convert it into White money. He said that India is keen to have a comprehensive double taxation treaty with Switzerland to check the stashing of money by Indians in banks there.
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.
When he was 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.
