Steps taken by India to tackle black money
January 25th, 2011 - 4:22 pm ICT by IANS
New Delhi, Jan 25 (IANS) Following are the steps spelt out by Finance Minister Pranab Mukherjee, which India has already taken and initiated to tackle the issue of black money abroad, estimated at between Rs.432 billion and $1.4 trillion:-Constituted multidisciplinary panel to estimate illicit fund generated by Indians
-Vice-chair of Global Forum on Transparency and Exchange of Information for tax purposes
-Joined the Task Force on Financial Integrity and Economic Development
-Member of Financial Action Task Force to trace terror funds
-Member of of UN Tax Committee and Sub Committee on Transfer Pricing
-Member of Eurasian Group on money laundering, tax evasion
-Signed double taxation avoidance agreements with 79 countries
-Negotiating with 65 countries to modify double taxation avoidance agreements
-Talks for new double taxation avoidance agreements with 15 countries
-Prioritized 22 countries/jurisdictions, called tax havens, for signing tax information exchange pacts
-Proposed eight income tax overseas units in addition to those in Singapore, Mauritius
-Amended Prevention of Money Laundering Act in 2009 to make it more stringent
-Proposed new legislation for unearthing black money under the Direct Taxes Code Bill
-Setting up Exchange of Information Cell to share information to curb tax evasion
-Detected undisclosed income of Rs.15,000 crore in last 18 months
- Five-fold strategy to deal with black money: Mukherjee - Feb 28, 2011
- India, Singapore to amend tax treaty - Jun 24, 2011
- Govt. committed to tackling menace of black money: President Patil - Feb 21, 2011
- India, Colombia sign double tax avoidance treaty - May 13, 2011
- Black money issue will be tackled: President - Feb 21, 2011
- Switzerland says it is 'not tax haven' - Feb 16, 2012
- India, Georgia sign double tax avoidance treaty - Aug 24, 2011
- India to join new convention to fight black money - Nov 04, 2011
- Government outlines measures to tackle black money - Aug 10, 2012
- Ethiopia seals deal with India to avoid double taxation - Apr 06, 2012
- Black money row: Govt. has nothing to hide, says Mukherjee - Jan 25, 2011
- Tax havens under pressure to share black money secrets: OECD official - Jun 15, 2011
- Our effort to tackle black money relentless: Mukher - Jul 27, 2011
- Congress booklet counters Ramdev's black money claims - Jun 11, 2011
- PM questions black money estimate of Rs.4 lakh crore - Jun 30, 2011
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