Intervention by the Union Finance Minister Shri Arun Jaitley at the G20 Finance Ministers
Posted on: 16 Apr 2016 14:24:55
16 April 2016 Current Affairs: The Union Finance Minister Shri Arun Jaitley participated in the Sixth Annual Ministerial Meeting of India- US Economic and Financial Partnership (EFP) in Washington D.C. The meeting took stock of the concerted efforts undertaken by both sides to deepen mutual understanding and to improve cooperation across a wide range of bilateral and multilateral issues.The two sides noted the significant progress made in resolving bilateral tax disputes between the United States and India. Progress has also been made in sharing of financial information between the two countries under the Inter-Governmental Agreement, pursuant to Foreign Account Tax Compliance Act (FATCA). The Finance Minister underscored that Financial Action Task Force (FATF) must ensure effective implementation of legislation in various countries relating to terrorist financing and take concrete action against countries sponsoring terrorism and hosting terrorist infrastructure. The FATF must also address offshore tax evasion and avoidance including through tax havens.
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