OECD has lauded the action taken by India in handling tax evasion and
black money issues. During the two-day high level Seminar held on “Adopting Tax
System and International Tax Rules to the New Global Environment : a Shared
Challenge for India and the OECD” in New Delhi, both OECD and India decided to
enhance their cooperation in dealing with issues relating to transfer pricing
and promote better tax compliance and measures to improve the prevention and
regulation of cross border dispute. Both agreed for enhanced tax cooperation and
suggest measures which will provide greater certainty to both taxpayers and the
Governments.
At
the Seminar, India and OECD announced plans to strengthen ongoing co-operation
on tax-related issues through the development of a three-year partnership that
will provide greater opportunities for structured dialogue and sharing of
information. The proposed partnership. will build on existing engagements and
further enhance Indian participation in the OECD’s global initiatives .The
three-year programme will broaden existing technical cooperation on tax matters
and extend high-level policy dialogue between India and the OECD. It will also
deepen India’s participation in the OECD Committee on Fiscal Affairs and its
subsidiary bodies.
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