Sitharaman calls for global action on offshore tax evasion

India on Tuesday called for global cooperation for coordinated action to deal with new challenges emanating from the digitalisation of the economy and the emergence of new financial products like crypto and stablecoins, and ensure the timely exchange of information among various jurisdictions.

- PTI

Inaugurating the 18th Global Forum Plenary meeting, Finance Minister Nirmala Sitharaman said technological tools like artificial intelligence should be used to ensure that tax information is exchanged among jurisdictions, which will lead to measurable outcomes.

"Looking ahead, there are new challenges that call for joint attention. The digitalisation of the economy, the emergence of new financial products, and evolving structures of beneficial ownership require continued cooperation between jurisdictions.