Revenue Secretary Hasmukh Adhia today said the government is planning to set up South Asian Regional Intelligence Coordination center to curb the illicit financial flow. Speaking at a conference Networking the Networks in New Delhi, Mr Adhia said once it is operational, it will allow South Asian countries to connect with other countries. This platform would initially comprise the founding members Bangladesh, Bhutan, Myanmar, Maldives, Nepal and Sri Lanka besides India, and later on would be open to inclusion of other countries/ international organization as decided by the founding members, based on shared concerns. He informed that seven countries will collectively set up this centre including India. He said the road map for phasing out corporate tax exemption will be rolled out by December.<br/><br/>Speaking on the occasion, Finance minister Arun Jaitley said evasion of taxes, parking assets outside is a major concern for economy. Mr Jaitley said no organization will benefit from illicit financial flow in any form. He said profiteering from illicit financial flow is a criminal offence. The minister said the government is trying to make laws simpler but when global money is involved it becomes complicated.<br/><br/>The three day conference will discuss scope for regional cooperation to effectively deal with illicit financial flows, mainly from tax frauds and human trafficking. Our correspondent reports, the conference will try to identify best practices of existing international organisations for cooperation on illicit financial flows.