India raises data sharing on taxation in G-20 Finance Minister, Central Bank Governors meet

In the G-20 Finance Ministers and Central Bank Governors meeting in Washington, India has called for data sharing on taxation and blamed the industrialised and developed nations for their reluctance to part with it.

Taking part in the meeting, Economic Affairs Secretary, Arvind Mayaram, stated that the continuing reluctance of some of the industrialised nations for parting with information under administrative assistance requests as contrary to the spirit of the move towards automatic tax information exchange. He also expressed the fact that India would like this to be considered in the next meeting so that jurisdictions are defined in accordance with their treaty obligations.

In a communique, the G-20 Finance Ministers and Central Bank Governors reiterated their commitment to boost global growth by 2 percent or over two trillion dollars in the next five years to achieve exchange rate flexibility.