27/02/2012 – India has ratified the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement developed jointly by the Council of Europe and the OECD that was opened for signature to all countries in June 2011. India has become the first country outside the membership of the OECD and the Council of Europe to become a Party to the Convention.
(Left/Right) Angel Gurria, OECD Secretary-General and Kamlesh Varshney, Director, Indian Ministry of Finance
“To further strengthen its capacity to tackle tax avoidance and evasion, India has acted swiftly to become a Party to this Convention, said OECD Secretary-General Angel Gurría. “India continues to demonstrate its leadership in tax matters, building on other recent moves to reinforce the partnership of OECD and India in the tax area.”
In June 2011, the OECD and India signed a three-year cooperation programme in the tax area covering high-level policy dialogue, multilateral events on taxation in India and a strengthening of India’s participation in the OECD’s Committee on Fiscal Affairs.
India also recently joined the OECD Network on Fiscal Relations Across Levels of Government and is a member of the OECD Forum on Tax Administration and of the Global Forum on Transparency and Exchange of Information, where India serves as a member of its Steering Group and is Vice-Chair of the Peer Review Group.
The Convention on Mutual Administrative Assistance in Tax Matters provides a multilateral basis for a wide variety of administrative assistance, including information exchange on request, automatic exchange of information, simultaneous tax examinations and assistance in tax collection. The Convention provides governments with a valuable tool for fighting offshore tax evasion and avoidance.
Signatories to the Convention are so far: Argentina, Australia, Belgium, Brazil, Canada, Denmark, Finland, France, Georgia, Germany, Greece, Iceland, India, Indonesia, Ireland, Italy, Japan, Korea, Mexico, Moldova, Netherlands, Norway, Poland, Portugal, the Russian Federation, Slovenia, South Africa, Spain, Sweden, Turkey, Ukraine, the United Kingdom and the United States.