Double Taxation Avoidance Agreement

Ready to revise tax treaty with India: Mauritius

New Delhi: Mauritius on Friday expressed its readiness to expeditiously revise the tax treaty with India to check tax evasion but asserted that domestic laws should not have precedence over the provisions of the bilateral pact.

"We want earlier resolution because we do not want uncertainty, as instability and uncertainty is not good for both countries," Mauritius Minister of Foreign Affairs, Regional Integration and International Trade, Arvin Boolell, told a press conference here.

India has been exerting pressure on Mauritius to revise the Double Taxation Avoidance Agreement (DTAA) since 2006 to curb the menace of tax evasion by companies and foreign financial institutions registered in the island nation.

Although, the joint working group on the tax treaty have met seven times so far, no substantial progress has been made due to Mauritius' "unwillingness" to bring in safeguards to prevent the misuse of the tax treaty....more    

Indo-Mauritius talks stuck; govt eyeing other options

New Delhi: There has been no headway in the Indo-Mauritius talks on the double taxation avoidance agreement (DTAA) as of yet. Government sources indicate that Mauritius is unwilling to allow taxation of capital gains as it feels the move will impact the country's economy. India was keen that investment from Mauritius be subject to capital gains tax because there was a lot of round-tripping. Companies were setting up subsidiaries in...  

Govt taking action on funds stashed abroad: FM

New Delhi: The government has received information about Indians having accounts in Swiss banks and is taking appropriate action to bring back funds stashed abroad, Parliament was informed on Tuesday. "We have received some information with regard to some deposits in Swiss Bank", Finance Minister Pranab Mukherjee told the Rajya Sabha. "Whenever information about money deposited in any foreign bank account is obtained the same is first verified and then...  

'Swiss pact on black money for prospective info'

New Delhi: The government on Tuesday said the pact with Switzerland to get details on illicit wealth stashed away in Swiss banks would be applicable only for prospective information and not for incidents of the past. "The new provision will be applicable only for prospective information and not for past information," Finance Minister Pranab Mukherjee told the Lok Sabha in a statement on signing of Protocol with Switzerland to amend...