In a boost for international efforts to strengthen co-operation against offshore tax evasion, seven new countries have joined the agreement to exchange information automatically under the OECD/G20 standard.
Taxes on wages have risen by about 1 percentage point for the average worker in OECD countries between 2010 and 2014 even though the majority of governments did not increase statutory income tax rates, according to a new OECD report.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has released peer review reports assessing the tax systems of 13 jurisdictions for information exchange.
India has ratified the Convention on Mutual Administrative Assistance in Tax Matters, a multilateral agreement developed jointly by the Council of Europe and the OECD that was opened for signature to all countries in June 2011.
India faces the same challenges as every OECD member country: how to adapt its domestic tax system and its international tax policies to a borderless economy, and how to ensure that the approaches embraced today will be well suited to meet the needs of the economy of tomorrow, said OECD Secretary-General. OECD can offer to India a forum for sharing worldwide experiences and benchmarking national policies against best practices, a