India, Swiss talks on Nov.10

Amid allegations of black money being stashed in  Swiss banks,India and Switzerland have advanced their talks on amending the taxation treaty by a month to the second week of November.

The discussions on renegotiating the Double Taxation Avoidance Agreement (DTAA), which comes in the wake of India seeking details of the black money stashed in Swiss banks, was earlier scheduled to be held in December.

“Exact date, I don’t remember. I was told, it (the talks on taxation treaty) have been advanced. It may be November 10 or 11, earlier it was December 10, 11,” the finance minister, Mr Pranab Mukherjee, said, responding to a question on renegotiating the DTAA with the Swiss authorities.

Mr Mukherjee asserted that the government is “genuinely serious” about amending the treaty.

Earlier, the Union finance minister had said that India and Switzerland would meet in December to negotiate the DTAA amendments.

Regarding the amount of unaccounted money lying in Swiss banks, the Union finance minister said that the government had made only one estimate, way back in 1985.

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