India today said the amended Double Taxation Avoidance Agreement (DTAA) with Switzerland, which was signed yesterday, would allow it to access to banking details of its citizens in that country.
“Information, which is foreseeable relevant for carrying out the provisions of this agreement or to the administration or enforcement of the domestic laws concerning taxes, can be exchanged under the DTAA, whereas earlier, information which was relevant only for carrying out the provisions of DTAA could be exchanged,” Finance Minister Pranab Mukherjee said in a statement in Parliament.
Mukherjee said the information received can be used for permitted purposes and need not necessarily be confined to tax purposes only, as was the case earlier.
