In news- India was recently chosen as the Tax Expert and Partner Administration for Tax Inspectors Without Borders (TIWB) in Seychelles.
More information-
- The programme was launched in Seychelles on 4th October, 2021.
- It is expected to be of 12 months duration during which India, in collaboration with the TIWB Secretariat and support of the UNDP Country Office in Mauritius and Seychelles, aims to aid Seychelles in strengthening its tax administration.
- India transfers technical know-how and skills to its tax auditors through sharing of best audit practices.
- The focus of the programme will be on Transfer Pricing cases of tourism and financial services sectors.
- This programme is the sixth TIWB programme which India has supported by providing Tax Expert.
About Tax Inspectors Without Borders-
- It was jointly launched by UNDP and OECD in 2015.
- It is intended to support developing countries to strengthen national tax administrations through building audit capacity and to share this knowledge with other countries.
- It aims to strengthen tax administrations of developing countries by transferring technical know-how and skills to their tax auditors, and through the sharing of general audit practices and dissemination of knowledge products with them.
- It facilitates expert audit assistance in areas such as transfer pricing; thin capitalisation; advance pricing agreements; anti-avoidance rules; consumption taxes ; high net-worth individuals; pre-audit risk assessment and case selection and audit investigatory techniques.
- It does not cover assistance relating to customs matters nor is concerned with providing policy support, advice on legislative changes, issues related to (re)negotiations, international tax treaties, or litigation.
- Selected experts will work with local tax officials directly on current audits and audit-related issues concerning international tax matters and general audit practices relevant for specific cases.
Source: The Hindu
