Patil for fighting black money war domestically and overseas

New Delhi, Jul 15 (PTI) Amid growing concern over the
problem of black money, Indian President Pratibha Patil on
Friday said the war against the menace should be fought
through domestic and cross-border measures.
The President, while addressing the concluding ceremony
of celebrations for 150 years of the Income Tax Department,
also made a strong case for tightening laws to book tax
evaders.
"The war against black money has to be addressed both
domestically and through cross border measures," she said,
adding the efforts to enhance global cooperation need to
continue.
"There has to be continued (cooperation) through
appropriate agreement on tax information exchange, and on
mutual cooperation between countries to track down evaders
taking shelter in other jurisdictions", she said.
On the domestic front, Patil said: "Fostering of an
environment of voluntary compliance will help. There is
also need for putting in place measures, through laws and
procedures, to ensure that recalcitrant tax evaders are
brought to book".
It may be recalled the government has taken various
initiatives to deal with the menace of black money and has set
up several committees to ascertain the extent of black money
and suggest measures to tighten tax laws.
On the international front, the government has been
taking a pro-active role at global forums especially G-20,
revising bilateral tax treaties and signing new pacts with tax
havens or low tax jurisdictions.