The US has temporarily averted the fiscal cliff that would have meant the automatic triggering of tax rises and spending cuts, after what can hardly be described as a seamless and straightforward journey.
SS Palanimanickam, India’s Minister of State for Finance, in written response to a question in the Rajya Sabha last week, confirmed that India is in the process of signing double taxation avoidance agreements (DTAAs) with 12 countries and tax information exchange agreements (TIEAs) with 34 countries.
The Swiss Federal Council on Friday issued a statement saying it wants to prevent banks and other financial institutions from accepting untaxed assets by enhancing due diligence requirements.
The German Mediation Committee that was convened to try and save the German-Swiss tax agreement regarding undeclared and untaxed assets in Swiss accounts has failed to agree on a solution.
