India- U.S tax pact

09-Jul-2015 #India-US Source: Reuters
India and the United States will soon sign a tax information sharing agreement under a new US law meant to combat offshore tax dodging by Americans. By signing the agreement, India hopes to gather Washington's backing for its own efforts to bring back illegal funds hidden by Indians in foreign tax and lift revenues. Investors will have to provide correct information about their tax residency and financial assets that would be shared with US tax authorities.
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