After deciding to deploy revenue service officers at eight overseas Income Tax units, the government will now depute IRS officers to an international economic body OECD to enhance Indian capabilities in tackling money laundering, tax crimes and bribery. Finance Minister Pranab Mukherjee earlier this month approved the proposal for deputing the officials to Paris-headquartered body as advisors.
Indian tax officials will function in three broad areas of tax administration and tax crimes – exchange of tax crime information, transfer pricing and the global forum for transparency and exchange of information for tax matters.
According to the Finance Ministry sources, the government wants these officers to liaise with tax authorities of other countries and subsequently gain expertise to effectively tackle the issue of blackmoney and stashing of illegal funds in tax haven nations.
