New Delhi, Dec 31 In the fight against black money stashed abroad, the government on Wednesday approved India’s signing of a protocol with EU member nation Slovenia, to make changes to the Double Taxation Avoidance Treaty (DTAT) between the two countries.
“The amendment in the protocol will broaden the scope of the existing framework of exchange of tax related information which will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes,” a cabinet communique said.
The confidentiality, or secrecy, clause in the DTAT forbids sharing of details obtained through such treaties with other law enforcement and investigation agencies.
India has DTAT with over 95 countries and plans to sign more with others. The major countries with which it has signed the DTAT are the US, Britain, the UAE, Canada, Australia, Saudi Arabia, Singapore, Switzerland, New Zealand and Mauritius.