Can’t name and shame: Govt

The names were given by various countries to the Indian government only for taxation purposes,Mukherjee is understood to have explained. Putting out the names in public domain would mean that India may not be able to access such information again as countries would be wary of giving it out,he said.

As such,the country is in the process of renegotiating Double Taxation Avoidance Agreements (DTAAs) with 66 countries for inclusion of exchange of information clause. The country has also initiated negotiations on Tax Information Exchange Agreements (TIFA) with tax havens for ensuring flow of information from these low tax or zero tax countries. As regards the treaty with Switzerland,both the countries have completed the negotiations and a ratification by Swiss Parliament is awaited after which the renegotiated DTTA would be enforced.

Meanwhile,the Parliamentary Standing Committee on Finance is also scheduled to discuss the issue of black on January 27. “The panel had earlier urged the finance ministry to take action against tax-evaders who have channelled their funds into foreign accounts. We will review the ministry’s action,” a source said.