Global Forum on Transparency and Exchange of Information for Tax Purposes: India 2017 (Second Round)
Peer Review Report on the Exchange of Information on Request
In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on November 17, 2017
This report contains the 2017 Peer Review Report on the Exchange of Information on Request of India.
SUMMARY OF THE REPORT
India received an overall rating of largely compliant with the international standard of exchange of information on request (EOIR) for the transparency of its entities and its EOI practice over the period 1 July 2013 to 30 June 2016. Its legal framework is generally in line with the international standard, but some improvements are required to ensure that the new obligations to maintain beneficial ownership information on all the entities and legal arrangements are well monitored in practice. India sends large volume of EOI requests in its policy to crackdown on tax evasion by Indian residents. India must continue its work on improving the quality of the EOI requests that it sends to its partners; notably by continuing to implement its action plan on the matter and good communication with its EOI partners. Its rating was Compliant in the first round of reviews, when these two aspects were not reviewed.