India, Germany to revise tax treaty

February 21st, 2011 - 9:34 pm ICT by IANS  

Pranab Mukherjee New Delhi, Feb 21 (IANS) India and Germany have agreed to revise their existing double taxation avoidance agreement, in a bid to tighten the noose on tax evaders and track down money stashed in tax havens. Finance Minister Pranab Mukherjee requested for early finalisation of double taxation avoidance agreement during a meeting with his German counterpart Wolfgang Schaeuble on the sidelines of the G20 finance ministers meet in Paris, the finance ministry said in a statement here Monday.

Mukherjee requested the German tax authorities to share information with Indian Enforcement Directorate.

Under the existing treaty, Germany is not obliged to share information for non-tax use.

“Germany has agreed to revise the article concerning exchange of information in the existing double taxation avoidance agreement for sharing information with our enforcement agencies,” the finance ministry statement said.

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