Germany to share information on secret bank accounts with India
21 Feb 2011
Germany has assured the Indian government that it would pass on information about Indian citizens holding secret bank accounts.
Germany came out with the assurance during a bilateral meeting between finance minister Pranab Mukherjee and German finance minister Wolfgang Schaeuble on the sidelines of the meeting of G20 finance ministers and central bank governors that concluded in Paris on Saturday.
The finance minister appreciated the role of Germany in providing information about Indian citizens holding secret bank accounts in the LGT bank of Liechtenstein.
A list of names of some Indians holding secret accounts in the Liechtenstein Bank has earlier been provided by Germany.
"German finance minister ... assured him (Mukherjee) that as and when they have such information, they will pass it on to the Indian government", said a release.
Germany had also agreed to a revision of Double Taxation Avoidance Agreement (DTAA) and to incorporate clauses to facilitate exchange of information between the law enforcement agencies of the two countries, the release added.
According to the release, the negotiations for amendment of the DTAA would start soon. Mukherjee had requested for early amendments to the tax treaty.