To check illicit financial flows across borders, the government is renegotiating bilateral treaties with many countries to limit tax benefits to genuine investments and curb the routing of Indian money to safe havens, a senior Finance Ministry official said. While noting that the quantum of domestic black money would be no less than what is supposed to be stashed abroad, Revenue Secretary Shaktikanta Das said that the government is renegotiating many of the tax treaties to deal with the issues of Limitation of Benefits.
Posted on: Thu, 25 Dec 2014 17:46:20 +0000
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