UNION Finance Minister
Pranab Mukherjee held a meeting with his German counterpart Wolfgang Schaeuble,
on the sidelines of G-20 Finance Ministers and Central Bank Governors’ Meeting
in Paris on 19th February, 2011. The Finance Minister appreciated the role of
Germany in providing information about Indian citizens having bank accounts in
the LGT bank of Liechtenstein. Mr Mukherjee indicated the need for the German
tax authorities to share information with the Enforcement
Directorate.
Under
the existing treaty, Germany would not be able to share information for non tax
use. Germany, in turn, had agreed to revise the Article concerning exchange of
information in the existing Double Taxation Avoidance Agreement (DTAA) for
sharing information with the Enforcement agencies, added Mr Mukherjee. He also
requested for early finalization of the arrangement for amendment to the DTAA.
The German Finance Minister agreed to start early negotiations for amendment to
the DTAA.
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