https://www.taxtmi.com/news?id=4406 A coordinated regulatory initiative seeks recovery of illicit foreign funds via a five-pronged strategy: international cooperation and information exchange; strengthened legislative measures and treaty amendments; creation of specialized institutions and information units; development of operational systems and manpower policy; and continuous training. Enforcement is hindered by lack of official estimates of assets abroad, limited identity information for account holders, and treaty prohibitions on fishing expeditions, while domestic tax administration pursues scrutiny, searches, penalties, prosecutions and IT driven information collation. en-us Fri, 21 Dec 2012 10:40:57 +0530 Fri, 21 Dec 2012 10:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=4406 A coordinated regulatory initiative seeks recovery of illicit foreign funds via a five-pronged strategy: international cooperation and information exchange; strengthened legislative measures and treaty amendments; creation of specialized institutions and information units; development of operational systems and manpower policy; and continuous training. Enforcement is hindered by lack of official estimates of assets abroad, limited identity information for account holders, and treaty prohibitions on fishing expeditions, while domestic tax administration pursues scrutiny, searches, penalties, prosecutions and IT driven information collation. News - Fri, 21 Dec 2012 10:40:57 +0530 https://www.taxtmi.com/news?id=4406