Indian efforts on to get back money illegally parked in Switzerland: Mukherjee - India News and Travel Times Provides India-centric and other News and Features

A team would soon be visiting Switzerland to hold talks with the Swiss authorities in an effort to unearth unaccounted for money stashed away by Indian nationals, Finance Minister Pranab Mukherjee has said. The government has finalised dates to renegotiate existing treaties with Switzerland and Belgium to broaden the scope for brining back money parked illegally by Indians in foreign banks. "So far, the efforts to unearth the unaccounted money stashed elsewhere, we have taken initiatives. In respect of Switzerland, I think the team is going on 10th and 11th of this month. We are engaged in discussion with the Swiss authorities. We want to amend the Avoidance of Double Taxation agreement. Of course in a large number of countries...the appropriate clause will be inserted through which you can get the necessary information to locate the tax evaders and to have the facilities of recovering the tax because...up to now we did not accept the OECG clause of exchanging information. But now we have become a party to it and Swiss authorities have agreed to negotiate. The negotiations will begin from this month itself," Mukherjee told media persons on the sidelines of Editors' Conference 2009 in the national capital.