Black Money – Domestic and International Efforts

Automatic info exchange only way to tackle black money

  1. Common Reporting Standards on Automatic Exchange of Information should be implemented on a fully reciprocal global basis.
  2. This can help tackle the problem of the problem of black money & illicit flow to offshore jurisdictions and tax havens.
  3. Base erosion and profit shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to make profits ‘disappear’ for tax purposes!
  4. India welcomes the progress made in BEPS project incorporating the participation of 8 non-Oecd G20 countries
  1. Common Reporting Standards on Automatic Exchange of Information should be implemented on a fully reciprocal global basis.
  2. This can help tackle the problem of the problem of black money & illicit flow to offshore jurisdictions and tax havens.
  3. Base erosion and profit shifting (BEPS) refers to tax planning strategies that exploit gaps and mismatches in tax rules to make profits ‘disappear’ for tax purposes!
  4. India welcomes the progress made in BEPS project incorporating the participation of 8 non-Oecd G20 countries