India has shared protocol to tackle black money abroad: Minister

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Addis Ababa, July 19 (IANS) Following agreements with countries on automatic exchange of tax information, signing of the Foreign Account Tax Compliance Act (FATCA) with the US and working with the Organisation for Economic Cooperation and Development (OECD), India has established some shared protocols in tackling black money stashed abroad, union minister Jayant Sinha has said. “We made it clear that if the tax-payers have stashed assets or income offshore which they have not paid taxes on, there is no place to hide any more as far as India is concerned,” the Indian minister of state for finance, leader of his country’s delegation to the…

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