tax administrations

Switzerland has said exchanging details of bank accounts with India would be possible once the tax treaty, aimed at tracking black money, between the two nations is revised. “India and Switzerland are in renegotiations to adapt the existing double taxation treaty. Once this revised double taxation treaty comes into force, it will be possible to exchange account details,” Swiss Federal Tax Administration spokesman Beat Furrer told PTI in an email reply. Full Article

Tax dispute resolution in the Indian context hasn’t particularly been an encouraging experience. While a portion of this taint could be attributed to complexity of tax laws and efficiency levels of the administrative process, a material reason is delay in seeking resolution due to multiple layers of appeals, which currently is four. Full Article