The Income Tax department today said there is no great ambiguity in international tax laws and the Government wants to have more transparency in deals. “There are issues…debatable issues, but there is no great ambiguity in international tax laws,” Director General of Income Tax, International Taxation, R N Dash, said on the sidelines of a CII event here.
“We should all address it with fair judiciousness. The Government wants to have more transparency in deals,” he said.
Meanwhile, the Government is in the process of establishing treaty protocols with some tax havens to curb the menace of black money.
“We are in the process of establishing treaty protocols with some of the tax havens. Treaty conditions are being revived to exchange tax information,” he said.
Having already established treaties with Singapore and Mauritius, the Government is in the process of concluding such pacts with eight other countries, Dash said.
The Income Tax Department will adopt international best practices, he said.
PTI
“Ambiguity” is itself a self-cotained word standing for the opposite of the word un-ambiguity and hence need not be and cannot indded be qualified by another adjective “great” The moot point being, wheter some Act or provision therein is “ambigupus” or not. It is enought to say that there “no great ambiguity” thereby tacitly admitting that there indeed is ambiguity in international tax laws. Period.