IN
what is being seen as a significant policy shift, the Indian Finance Minister,
Mr Pranab Mukherjee, has said that India will look to align with the OECD model
for taxation in full measure in the coming days. India had traditionally been
following the UN Model of taxation. But it had set its sight on the OECD model
in the recent years, especially after it decided to make use of Article 26
(clause on exchange of information) from the OECD model convention and
incorporate it in all the revised double taxation avoidance agreements and the
new tax information exchange agreements entered into. India has been included as
34th member of Financial Action Task Force, which has made it eligible to access
the OECD model.
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