Talks with Swiss government on tax defaulters in Dec: Pranab
September, 12th 2009
India will start talks with the Swiss government in December to get information on tax defaulters who have allegedly stashed away wealth in Swiss banks, finance minister Pranab Mukherjee told a group of women journalists on Friday.
This is a major part of the decision at the G-20 meeting which saw countries in Europe, Asia and the US clamouring for a shutdown of tax havens. This decision was repeated during the grouping's September meeting in London.
Mukherjee said in March 2009, the Swiss government said it would share banking data only with countries who abided by Article 26 of the model tax code of OECD countries. However, this information would be shared for tax collection purposes only and could not be shared with the public.