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France, India Announce Joint Tax Evasion Crackdown

by Ulrika Lomas, Tax-News.com, Brussels

27 January 2016


France and India have signed an agreement to deepen cooperation between the two countries in the field of taxation, particularly on preventing tax evasion.

19 agreements were signed on January 25 by French President François Hollande and Indian Prime Minister Narendra Modi during Hollande's official visit to India, including an agreement to target offshore tax evasion and strengthen information exchange between France and India.

According to a joint statement issued by the French and Indian governments, the two leaders agreed to explore further avenues for joint tax cooperation, especially in capacity building and sharing of best practices, in line with both countries' G20 commitments.

The statement also said that France and India are committed to bringing about a resumption in the negotiations for a free trade agreement between the European Union and India. The negotiations have been on hold since 2013 when the EU restricted the use of around 700 drugs tested in India because they were deemed unsafe, prompting the Indian Government to break off the talks. However, negotiators were due to meet this month to examine the feasibility of restarting the talks.

TAGS: tax | value added tax (VAT) | India | offshore | France | G20 | trade | Europe | Tax | Tax Evasion

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