Jaitley to visit Paris on June 7, sign OECD convention on tax evasion
The Dollar Business Bureau Finance Minister Arun Jaitley will be travelling to Paris to sign the multilateral convention of Organisation for Economic Cooperation and Development (OECD), next week. The convention is aimed at checking cross-border evasion of taxes by multinational companies (MNCs). During the 3-day visit beginning June 7, the Finance Minister will also join the Ministerial Council Meeting, which will be attended by ministers from OECD countries and other partner countries to deliberate upon issues of global importance. Earlier this month, the Union Cabinet had given the approval for signing the OECD’s multilateral convention. The convention is a result of the base erosion and profit shifting (BEPS) project between OECD and G-20, to tackle what is used by MNCs via tax planning strategies by abusing ...
India, US to act on tackling offshore tax evasion
Source: The Dollar Business Bureau In the backdrop of an increasing tax evasion and terror financing incidents across the globe, India and the US on Thursday agreed to strengthen their cooperation in sharing cross-border tax-information and tackling tax evasion and avoidance. “We are committed to continued collaboration and sharing of experience in tackling offshore tax evasion and avoidance, including joint tax audits and tax examination abroad,” a joint statement issued by Finance Minister Arun Jaitely and US Treasury Secretary Jacob J. Lew said. On Thursday, Jaitley and Lew held a meeting on the sidelines of the sixth annual US-India Economic and Financial Partnership (EFP), which was also attended by the Reserve Bank of India (RBI) Governor Raghuram Rajan and Federal Reserve Chair Janet ...
India, UK to cooperate in infra financing
Source: PTI India and the UK have agreed to strengthen their economic cooperation in infrastructure and financial services as they vowed to address cross-border tax evasion and avoidance. Finance Minister Arun Jaitley, who held talks with his UK counterpart George Osborne as part of the 8th India-UK Economic and Financial Dialogue and had a series of meetings with UK-based investors and fund managers, on Tuesday said that his visit to London had carried the economic and financial dialogue with Britain forward. After talks between Jaitley and Osborne, a joint statement was issued that talked about advancement of cooperation in a range of sectors including infrastructure financing, addressing issues of cross-border tax evasion and avoidance besides opening up of the Indian ...
