REPLYING to a query in the Lok Sabha yesterday, the Finance Minister, Mr Pranab Mukherjed, informed the House that India has concluded re-negotiation of India-Switzerland DTAA, and the matter is being actively pursued for early implementation of the amended DTAA. The FM hoped that the amended DTAA would facilitate smooth exchange of information between Indian and Swiss revenue authorities. This would also help Indian revenue to obtain information from the Swiss banks in cases where there is prima facie evidence of wrong-doing.

It is learnt that the Swiss authorities have agreed to the changes in the DTAA along the lines of the model recommended by the OECD. India had approached the Swiss Govt with specific amendment proposal in April 2009, to gain access to Swiss bank information relating to Indians.

Indian enforcement agencies hope that once the amendment DTAA comes into force, they might be able to proceed with their IPL probes which are, for quite some time, caught in a cul-de-sac syndrome.