Which of the following Initiatives/Organizations work towards addressing the problem of Black money:
1. OECD 2. FATCA
3. TIEA 4. FATF
Which of the following is/are correct?
Which of the following Initiatives/Organizations work towards addressing the problem of Black money:
1. OECD 2. FATCA
3. TIEA 4. FATF
Which of the following is/are correct?
The correct option is D All of these
OCED is an international economic organisation of 34 countries to stimulate economic progress and world trade. It was founded 1961with Headquarters in Paris, France. It defines itself as a forum of countries committed to democracy and the market economy. It provides common platform for members to compare policy experiences, seek answers to common problems, identify good practices etc. Most OECD members are regarded as developed countries i.e. high-income economies with very high Human Development Index (HDI). The 2015 final reports of the Organisation for Economic Co-operation and Development (OECD)-led project on Base Erosion and Profit Shifting (BEPS) — which refer to the erosion of a nation’s tax base due to the accounting tricks of Multinational Enterprises (MNEs) and the legal but abusive shifting out of profits to low-tax jurisdictions respectively — lays out 15 action points to curb abusive tax avoidance by MNEs.
Tax Information Exchange Agreements (TIEAs) provide for the exchange of information on request relating to a specific criminal or civil tax investigation or civil tax matters under investigation.
The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law to enforce the requirement for United States persons including those living outside the U.S. to file yearly reports on their non-U.S. financial accounts to the Financial Crimes Enforcement Network (FINCEN)
The Financial Action Task Force (FATF) is an inter-governmental policymaking body that has a ministerial mandate to establish international standards for combating money laundering and terrorist financing. India joined the Financial Action Task Force (FATF) as its 34th member in June 2010.
All of these
OCED is an international economic organisation of 34 countries to stimulate economic progress and world trade. It was founded 1961with Headquarters in Paris, France. It defines itself as a forum of countries committed to democracy and the market economy. It provides common platform for members to compare policy experiences, seek answers to common problems, identify good practices etc. Most OECD members are regarded as developed countries i.e. high-income economies with very high Human Development Index (HDI). The 2015 final reports of the Organisation for Economic Co-operation and Development (OECD)-led project on Base Erosion and Profit Shifting (BEPS) — which refer to the erosion of a nation’s tax base due to the accounting tricks of Multinational Enterprises (MNEs) and the legal but abusive shifting out of profits to low-tax jurisdictions respectively — lays out 15 action points to curb abusive tax avoidance by MNEs.
Tax Information Exchange Agreements (TIEAs) provide for the exchange of information on request relating to a specific criminal or civil tax investigation or civil tax matters under investigation.
The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law to enforce the requirement for United States persons including those living outside the U.S. to file yearly reports on their non-U.S. financial accounts to the Financial Crimes Enforcement Network (FINCEN)
The Financial Action Task Force (FATF) is an inter-governmental policymaking body that has a ministerial mandate to establish international standards for combating money laundering and terrorist financing. India joined the Financial Action Task Force (FATF) as its 34th member in June 2010.
