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India and the OECD have decided to enhance their cooperation on international taxation matters, especially on transfer pricing.
The resolve to strengthen cooperation comes at a time when the Indian Government is faced with extensive criticism by Opposition parties over its inability to bring to tax the funds stashed abroad in foreign banks by its citizens.
“Both (India and the OECD) agreed for enhanced tax cooperation and suggest measures that will provide greater certainty to both taxpayers and the Governments,” the Finance Ministry said in a statement issued at the end of the two-day international tax seminar.
During the seminar, participants explored some of the most complex challenges posed by the taxation of multinational enterprises in a globalised environment. Over 170 officials from India and a dozen from OECD and non-OECD countries attended the seminar.
krsrivats@thehindu.co.in
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