Blog

28
jan

India signs international tax agreement

India has signed the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement which promotes international co-operation while respecting the rights of taxpayers

The Convention provides for administrative co-operation between the parties in the assessment and collection of taxes, with a view to combating tax avoidance and evasion.

With taxpayers increasingly operating on a global basis, tax authorities are moving from bilateral to multilateral cooperation and from exchange of information on request to other forms of co-operation. The Convention is an effective and practical tool to help tax authorities in their everyday work.

By signing the Convention, India and the other 31 signatories encourage more countries to join, sending a strong signal that countries are acting together to ensure that individuals and multinational enterprises pay the right amount of tax, at the right time and in the 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.

source:oecd.org