Our effort to tackle black money relentless: Mukher

July 27th, 2011 - 3:19 pm ICT by IANS  

Pranab Mukherjee New Delhi, July 27 (IANS) Finance Minister Pranab Mukherjee Wednesday said all possible steps were being taken to bring back black money stashed away overseas by Indians and that relevant negotiations were on in this regard with as many as 97 countries.

“We can get information based on two legal instrumentalities,” Mukherjee told reporters, speaking about the steps being taken to address the issue of black money in tax havens abroad, unofficially estimated at between $450 billion and $1.4 trillion.

He said the government was pursuing both options: Entering into bilateral double taxation avoidance agreements and exchanging information on such matters with other countries through relevamt forums.

“Let me say this, our effort tackle back black money is relentless,” Mukherjee said.

According to him, negotiations had been initiated with 97 countries and jurisdictions — 75 for double taxation avoidance pacts and 22 others for sharing of tax information. Of these, negotiations had concluded with 58 nations and underway with 29 others.

“We have also signed 16 agreements.”

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