Union Finance Minister Nirmala Sitharaman on Sunday announced that India will launch a pilot programme on tax and financial crime investigation from July 18.
“It gives me immense pleasure to announce the launch of a pilot programme on tax and financial crime investigation in collaboration with the OECD for the South Asian region starting from July 18 at the Regional Campus of National Academy of Direct Taxes in New Delhi,” Sitharaman said, adding that this institutionalised initiative will help in addressing the specific needs of countries in the South Asia region.
Financial crimes such as tax evasion, corruption, and money laundering are intrinsically related to each other, she further said at a G20 side event held at GIFT City.
Asking G20 member countries to remain alert to the emerging risks to financial transparency, she said, “In this context, the progress of work towards the development of the Crypto-Asset Reporting Framework and the update to the Common Reporting Standard is a welcome step.”
Sitharaman was addressing two events: Combating Tax Evasion, Corruption, and Money Laundering’ and ‘Investor Dialogue’ on the sidelines of the G20 Finance Minister and Central Bank Governor (FMCBG) meeting.
