https://www.taxtmi.com/news?id=3606 Measures establish a Directorate of Criminal Investigation within the tax board to trace illicit financial flows and use expanded treaty based exchange of information and a multilateral convention to investigate offshore accounts. A five pronged strategy combines enhanced legislation (including renegotiated DTAAs and TIEAs), specialised institutions and overseas units, strengthened operational systems and staffing, targeted training, and active multilateral engagement. Recent finance legislation introduces General Anti Avoidance Rules, compulsory foreign asset reporting, extended reopening of assessments for overseas assets, tax collection at source in specified transactions, and taxation of unexplained monies to deter offshore concealment. en-us Sat, 11 Aug 2012 10:13:33 +0530 Sat, 11 Aug 2012 10:13:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3606 Measures establish a Directorate of Criminal Investigation within the tax board to trace illicit financial flows and use expanded treaty based exchange of information and a multilateral convention to investigate offshore accounts. A five pronged strategy combines enhanced legislation (including renegotiated DTAAs and TIEAs), specialised institutions and overseas units, strengthened operational systems and staffing, targeted training, and active multilateral engagement. Recent finance legislation introduces General Anti Avoidance Rules, compulsory foreign asset reporting, extended reopening of assessments for overseas assets, tax collection at source in specified transactions, and taxation of unexplained monies to deter offshore concealment. News - Sat, 11 Aug 2012 10:13:33 +0530 https://www.taxtmi.com/news?id=3606