Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: VAT Audit :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: empanelment :: form 3cd :: due date for vat payment :: TDS
 
 
« General »
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners
 Income Tax efiling: Tax implications resulting from clubbing of income
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018-regd
  GST: How companies are gaming the system
 Goods And Services Tax transparency: Elimination of added taxes to boost investment in realty
 In a first, Income Tax department to charge govt official under new benami law
 Income Tax Return Filing: 10 common mistakes people make while filing return of income
 Income Tax efiling: A few essential facts for senior citizens to keep in mind
 Pre-GST discounts get Maharashtra 16% more sales tax in three months
 Here’s how self-employed should efile their taxes

India to press for transparency in tax haven functioning: G20
February, 18th 2011

Facing flak at home over black money stashed abroad, India will press for transparency in the functioning of tax havens at the G20 Finance Ministers meeting in Paris on Friday to unearth "ill-gotten" money lying in such sovereign jurisdictions. "There should be transparency. Particularly the tax havens should cooperate with countries to unearth the ill-gotten resources which are being deposited there," Finance Minister Pranab Mukherjee said ahead of the meeting.

The finance ministers of the world's 20 top countries, including India, China, the US, UK and Russia, are meeting here to review the international financial situation and issues like black money, rising energy and food prices.

He said a part of the black money generated through tax evasion is being deposited in foreign banks, particularly in tax havens. The Indian government is taking steps to tackle the menace, he said.

"We are addressing this issue by entering into agreements with them (tax havens)," Mukherjee said.

At present, India has Double Taxation Avoidance Agreements (DTAAs) with 78 countries and has started negotiations with them for making banking information related to taxes available.

There are sovereign jurisdictions which, however, are not sovereign countries, like St Kitts and the British Virgin Islands, among others.

"With them, we are not having DTAA, but we are entering into agreement, which is called exchange of tax information," Mukherjee said, adding that the problem of black money can be addressed only in a legal way.

"Without any legal framework, nobody is going to give information to you," he added.

India has already signed tax information exchange agreements (TIEA) with four jurisdictions -- the British Virgin Islands, Isle of Man, the Bahamas and Bermuda.

The coalition government in India, headed by Prime Minister Manmohan Singh, is facing heat over black money stashed abroad from the Supreme Court, the Opposition and the media.

The government is being blamed for not taking enough action in this regard.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions