FM bats for better sharing of tax data among nations

COUNTRIES MUST COLLABORATE in tax matters as new financial products emerge and the economies become more digital, Finance Minister Nirmala Sitharaman said on Tuesday. Evolving structures of “beneficial ownership” necessitate continued cooperation between jurisdictions, she said.

- FE BUREAU

Addressing the 18th plenary meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes here, Sitharaman underscored the importance of maintaining confidentiality and cybersecurity with utmost care and stated that these challenges cannot be addressed alone by any single country and require coordination, trust, and timely exchange of relevant information.