Home India Politics Pranab to address international meeting on black money, tax reforms

Pranab to address international meeting on black money, tax reforms


New Delhi: Finance Minister Pranab Mukherjee will Monday open here a two-day international seminar on black money and tax reforms.

The event is being organised by the finance ministry in partnership with the Organisation for Economic Cooperation and Development (OECD), a ministry statement said Sunday.

This is for the first time such a high-level international seminar is being held in India in association with the OECD, the statement added.

Over 150 experts from 30 member countries of the OECD, the International Monetary Fund and the World Bank are likely to participate in the event.

Discussions would be held in separate sessions on the issues related to transfer pricing, global trends in tax reforms, implications for international tax arrangements, international dispute resolution and elimination of double taxation, among others, at the event.

On the initiatives taken by the government to curb tax frauds, the finance ministry said: “India has taken various steps to strengthen the transfer pricing provision to check misuse of the provisions and efforts to shift profits to another country.”

“The variety of inter-company transactions, increased global business restructuring and location of companies in various tax jurisdictions have brought various challenges to the tax administration on transfer pricing rules,” the ministry added.