India signs up to Europe's anti-corruption plan
PTI India has joined a group of nearly 40 nations that have signed a Europe-led clampdown on tax evasion and corruption, committing to automatically exchange information on beneficial ownership, the UK government said. "The following countries have committed to the initiative to automatically exchange information on beneficial ownership. The next stage will be for the development of a global standard for this exchange," said a release Wednesday by the UK s Treasury Department with a list of all those signed up. Besides India, some of the other countries outside Europe on the list include Afghanistan, Nigeria, Mexico and the UAE. The initiative aims to develop a global standard for the automatic exchange of beneficial ownership data between law ...
India, Switzerland improve cooperation on tax matters
Source: PTI With India stepping up efforts to bring back illicit funds stashed abroad, Switzerland has said both sides have improved their cooperation on tax matters following several high-level meetings. Over the past few months, both countries have been working closely on mutual administrative assistance, according to the Swiss governmentand in the recent months, Switzerland has disclosed names of more than a dozen Indians about whom information has been sought by the Indian government amid suspicion that their accounts in Swiss banks were being used for stashing illicit money. "Switzerland and India have been working closely together in the field of mutual administrative assistance over the past few months," a Swiss Federal Department of Finance spokesperson told PTI from Berne. ...
