Sponsored
    Follow Us:
Sponsored

Press Information Bureau
Government of India
Ministry of Finance

Dated 08-October-2015

Finance Minister emphasizes the need for standardized information exchange to prevent International Tax evasion and avoidance

Finance Minister Shri Arun Jaitley has emphasized the need for common reporting standards on Automatic Exchange of Information to be implemented globally to prevent international tax evasion and avoidance.

Intervening in the 49th Annual Commonwealth Finance Ministers Meeting in Lima, Peru yesterday he welcomed the efforts of OECD in the Action Plan on Base Erosion and Profit Shifting (BEPS) Project and Automatic Exchange of Information which have important implications for commonwealth countries. He emphasized the need to ensure that the Common Reporting Standards on Automatic Exchange of Information are implemented globally on a fully reciprocal basis as this would be a key to prevent international tax evasion and avoidance. He noted that India has been the beneficiary of these two systems by getting vital information on tax evasion.

The meeting of the Commonwealth Finance Ministers also focused on issues relating to Infrastructure Financing and Small States’ Trade Financing Facilities. The Finance Minister is on tour to Peru to attend the annual meetings of the IMF and the World Bank and other associated meetings.

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031