India 61st Country To Sign OECD Pact To Exchange Financial Information

Finance and Trade
04/06/2015 20:39

The Economic Times reports India today joined the OECD global pact on exchange of information on financial accounts, a move some expect could help prevent international tax evasion and could prove instrumental in getting Indian tax authorities information on assets of Indians held abroad including through entities in which Indians are beneficial owners. India is the 61st country to sign the Multilateral competent authority agreement, following in the footsteps of a.o. Belgium, Canada, South Africa, Switzerland and the Cayman Islands. Countries not appearing on the OECD signatories list include the United States, United Arab Emirates, Israel and Panama.