India joins clampdown on tax evasion and corruption

Q.  India has joined how many other nations for an EU led clampdown on tax evasion and corruption?
- Published on 15 Jun 16

a. 40
b. <40
c. >40
d. Around 40

ANSWER: Around 40
 
India has joined a group of nearly 40 nations that have signed a Europe-led clampdown on tax evasion and corruption.
  • This is a commitment to automatically exchange information on beneficial ownership.
  • According to UK’s Treasury Department in London that these 40 countries have committed to the initiative to automatically exchange information on beneficial ownership.
  • The next stage will be for the development of a global standard for this exchange.
Besides India, some of the other countries outside Europe on the list include Afghanistan, Nigeria, Mexico and the UAE. Most European countries except Switzerland are part of this automatic exchange mechanism.

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