New Delhi: Taking another step towards combating black money, India has signed a multi-lateral agreement with economic powers like France and Germany to check both tax evasion and avoidance.
The agreement, convention on mutual administrative assistance in tax matters, is a multilateral agreement of 31 other nations which "promotes international co-operation while respecting the rights of taxpayers."
The agreement has been signed under the aegis of the Organisation for Economic Cooperation and Development (OECD), a top global financial body, at its headquarters in Paris recently.
A Finance Ministry official said the agreement was signed by CBDT official and Joint Secretary in foreign tax division of Finance Ministry Sanjay K Mishra along with OECD Deputy Secretary General Rintaro Tamakio....more
07:15 PM, Jan 26, 2012