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Pranab says resumes tax treaty talks with Mauritius

Pranab says resumes tax treaty talks with Mauritius
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First Published: Tue, Jun 21 2011. 01 21 PM IST
Updated: Tue, Jun 21 2011. 01 21 PM IST
New Delhi: Finance minister Pranab Mukherjee said on Tuesday the country has resumed talks with Mauritius on a double taxation avoidance agreement.
“So far as the Mauritius double taxation avoidance agreement negotiations are concerned, it is an old one. For some time the talks were suspended; now it has resumed,” Mukherjee said.
The Indian government has been under pressure from opposition parties to renegotiate a treaty blamed for huge revenue losses, as Indian investors ship their money to Mauritius and then funnel it back untaxed.
Officials have said the country was losing more than $600 million every year in revenue because of the tax treaty, besides incurring the risk of militant groups using it to route money into India.
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First Published: Tue, Jun 21 2011. 01 21 PM IST
More Topics: India | Mauritius | Tax Treaty | UPA | Pranab Mukherjee |