INDIA has signed a multi lateral agreement to promote international cooperation named the convention on mutual administrative assistance in tax matters. Promoting administrative cooperation between parties during the assessment and collection of taxes, the convention aims at eradicating tax avoidance and evasion.

India and 31 signatories that have given the nod to the convention have encouraged other countries to participate in order to ensure that individuals and multinational enterprises pay the right tax at the right time and right place. Signatories to the amended Convention are: Argentina, Australia, Belgium, Brazil, Canada, Denmark, Finland, France, Georgia, Germany, Iceland, India, Indonesia, Ireland, Italy, Japan, Korea, Mexico, Moldova, Netherlands, Norway, Poland, Portugal, Russia, Slovenia, South Africa, Spain, Sweden, Turkey, Ukraine, the United Kingdom, and the United States.