Jaitley signs OECD tax-treaty convention in Paris today
The Dollar Business Bureau India today signed the OECD multilateral convention that aims to check cross-border tax evasion by multinational companies. The Finance Minister, Arun Jaitley signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting in Paris. More than 65 countries, including India, signed the convention. More countries are expected to sign in coming days, a finance a finance ministry statement said. "The Convention will modify India's treaties to curb revenue loss through treaty abuse and base erosion and profit shifting strategies by ensuring that profits are taxed where substantive economic activities generating the profits are carried out and where value is created," the statement added. The Multilateral Convention is an outcome of the OECD/G20 Project ...
Global info exchange must to curb tax evasion, India tells G-20
The Dollar Business Bureau Stressing on the need to keep a check on tax evasion by multi-national companies (MNCs), India has asked the G20 members to expedite the implementation of a common reporting standard to ensure automatic exchange of information among countries. “There is a need to ensure that the common reporting standards on automatic exchange of information should be implemented on a fully reciprocal global basis and those countries which have not yet committed to the timeline of 2017 or 2018 should do it without any further delay. The problem of black money and illicit flow to offshore jurisdictions and tax havens can be addressed only if this is implemented at a global level,” Union Finance Minister Arun Jaitley ...
