India has called for data sharing on taxation and blamed the industrialised and developed nations for their reluctance to part with it. Economic Affairs Secretary Arvind Mayaram said although taxation was not on the agenda of the meeting but the issue of data sharing is becoming very critical for the developing countries. He was speaking at the G20 Finance Ministers and Central Bank Governors meeting in Washington. Mr Mayaram said the continuing reluctance of some of the industrialised nations for parting with information under administrative assistance requests is contrary to the spirit of the move towards automatic tax information exchange. He said India would like this to be considered in the next meeting so that jurisdictions are defined in accordance with their treaty obligations. Mr Mayaram said the International Industrial Working Group should look beyond the conventional solutions like Public Private Partnerships and infrastructure investment funds.In a communique, the Finance Ministers and Central Bank Governors of the Group of 20 nations reiterated their commitment to boost global growth by 2 percent or over two strillion dollars in the next five years to achieve exchange rate flexibility.
News On AIR | April 13, 2014 2:14 PM
India calls for data sharing on taxation