The Financial Express of India has reported:
Days after G-20 nations agreed to crack down on tax havens where nearly $11 trillion is parked, the Organisation of Economic Cooperation and Development (OECD) has begun a review of India’s foreign direct investment (FDI) policy to suggest measures that will ease sector-specific ceilings as well as look into issues of round tripping.
The first-of-its-kind review‚ÄîOECD Investment Policy Review of India‚Äîis expected to propose measures to make the FDI policy more open and transparent, methods to improve data maintenance, clauses on ‚Äòsecurity’, and also look into the dependence on investment that is round-tripped from tax havens.
This is very good news. This is a massive source of tax loss in places like India and China.
The plan to get developing countries benefiting from the anti-tax haven initiative looks like it may yield real rewards.