Black money: Govt for tax offices in six countries

August 05, 2011 17:42

Under pressure to bring back unaccounted money stashed abroad, the Government today said it will set up tax overseas units in eight countries,
including the US, France and Germany, this financial year.
"The proposal is being processed and (eight) Income Tax Overseas Units (ITOUs) are likely to be set up within the present financial year 2011-12," the Minister of State for Finance S S Palanimanickam told the Lok Sabha in a written reply.
Cyprus, Japan, UK, The Netherlands and United Arab Emirates are the other countries where the government wants to establish ITOUs.

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