Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | G20 backs India on black money hunt by Vrishti Beniwal    </title>
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India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained..."/>
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India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained..." />
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                            <br /><div align="justify">India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained silent on recovery of ill-gotten wealth stashed in tax havens.<br /><br />The draft communiqu&eacute;, to be issued by G20 finance ministers and central bank governors later on Saturday, has resolved to address issues relating to the importance of comprehensive tax information exchange, and, in particular, encourage authorities to continue their work in the global forum to assess and better define the means to improve it.<br /><br />&ldquo;For the first time, there is an acceptance that the G20 will put its weight behind obtaining information. This is a big victory for India,&rdquo; Department of Economic Affairs Secretary R Gopalan said.<br /><br />In his bilateral meetings with finance ministers of Australia and France, Finance Minister Pranab Mukherjee said this was an important takeaway India expected from the Cannes summit.<br /><br />In his intervention on Financial Regulation at a G20 session, Mukherjee said tax evasion and illicit flows have posed serious challenges to the efforts of the countries to raise revenue for development and to the growth of the world economy. He reiterated that automatic exchange of information was one of the most effective ways to improve voluntary tax compliance, and there was a need to make it obligatory.<br /><br />In the last two years, more than 700 Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs) have been signed as instruments for exchange of information.<br /><br />For these instruments to become effective, it is vital that a consensus is built at the global level for applying these standards on past information, including banking information, so that earlier tax evasion can be properly investigated. This is essential if the spirit of the statement that &ldquo;the era of bank secrecy is over&rdquo; is to be respected and promoted, he said.<br /><br />India also committed a donation of euro 3,20,000 to the Global Forum on Transparency and Exchange of Information for Tax Purposes to enable it to carry out this work effectively and efficiently.<br /><br />There is a lot of pressure on the government back home to tackle the black money issue. India managed to get the issue reflected in the G20, despite no other country specifically raising the issue. India is believed to have pushed very hard to get the G20 in taking up the issue.<br /><br />After the Pittsburg declaration many of the countries have extended cooperation for sharing information related to banking but India wants the process should be expedited and some information relating to past transactions is also needed, particularly from Switzerland and other tax havens where large amount of money is being deposited from different parts of the world.</div>                                                           
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    <br><a href="http://www.business-standard.com/india/news/g20-backs-indiablack-money-hunt/452701/" class="re" target="_blank">The Business Standard, 16 October, 2011, http://www.business-standard.com/india/news/g20-backs-indiablack-money-hunt/452701/</a><div class="clear"></div>
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India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained..."/>
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India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained..." />
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    <h1 class="cat-box-title">G20 backs India on black money hunt by Vrishti Beniwal</h1>
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                            <br /><div align="justify">India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained silent on recovery of ill-gotten wealth stashed in tax havens.<br /><br />The draft communiqu&eacute;, to be issued by G20 finance ministers and central bank governors later on Saturday, has resolved to address issues relating to the importance of comprehensive tax information exchange, and, in particular, encourage authorities to continue their work in the global forum to assess and better define the means to improve it.<br /><br />&ldquo;For the first time, there is an acceptance that the G20 will put its weight behind obtaining information. This is a big victory for India,&rdquo; Department of Economic Affairs Secretary R Gopalan said.<br /><br />In his bilateral meetings with finance ministers of Australia and France, Finance Minister Pranab Mukherjee said this was an important takeaway India expected from the Cannes summit.<br /><br />In his intervention on Financial Regulation at a G20 session, Mukherjee said tax evasion and illicit flows have posed serious challenges to the efforts of the countries to raise revenue for development and to the growth of the world economy. He reiterated that automatic exchange of information was one of the most effective ways to improve voluntary tax compliance, and there was a need to make it obligatory.<br /><br />In the last two years, more than 700 Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs) have been signed as instruments for exchange of information.<br /><br />For these instruments to become effective, it is vital that a consensus is built at the global level for applying these standards on past information, including banking information, so that earlier tax evasion can be properly investigated. This is essential if the spirit of the statement that &ldquo;the era of bank secrecy is over&rdquo; is to be respected and promoted, he said.<br /><br />India also committed a donation of euro 3,20,000 to the Global Forum on Transparency and Exchange of Information for Tax Purposes to enable it to carry out this work effectively and efficiently.<br /><br />There is a lot of pressure on the government back home to tackle the black money issue. India managed to get the issue reflected in the G20, despite no other country specifically raising the issue. India is believed to have pushed very hard to get the G20 in taking up the issue.<br /><br />After the Pittsburg declaration many of the countries have extended cooperation for sharing information related to banking but India wants the process should be expedited and some information relating to past transactions is also needed, particularly from Switzerland and other tax havens where large amount of money is being deposited from different parts of the world.</div>                                                           
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    <br><a href="http://www.business-standard.com/india/news/g20-backs-indiablack-money-hunt/452701/" class="re" target="_blank">The Business Standard, 16 October, 2011, http://www.business-standard.com/india/news/g20-backs-indiablack-money-hunt/452701/</a><div class="clear"></div>
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India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained..."/>
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India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained..." />
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    <h1 class="cat-box-title">G20 backs India on black money hunt by Vrishti Beniwal</h1>
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                            <br /><div align="justify">India on Saturday managed to get backing of the world&rsquo;s 19 most powerful economies on the issue of sharing tax information, as the G20&rsquo;s draft communiqu&eacute; for the first time took note of New Delhi's concerns. The draft, however, remained silent on recovery of ill-gotten wealth stashed in tax havens.<br /><br />The draft communiqu&eacute;, to be issued by G20 finance ministers and central bank governors later on Saturday, has resolved to address issues relating to the importance of comprehensive tax information exchange, and, in particular, encourage authorities to continue their work in the global forum to assess and better define the means to improve it.<br /><br />&ldquo;For the first time, there is an acceptance that the G20 will put its weight behind obtaining information. This is a big victory for India,&rdquo; Department of Economic Affairs Secretary R Gopalan said.<br /><br />In his bilateral meetings with finance ministers of Australia and France, Finance Minister Pranab Mukherjee said this was an important takeaway India expected from the Cannes summit.<br /><br />In his intervention on Financial Regulation at a G20 session, Mukherjee said tax evasion and illicit flows have posed serious challenges to the efforts of the countries to raise revenue for development and to the growth of the world economy. He reiterated that automatic exchange of information was one of the most effective ways to improve voluntary tax compliance, and there was a need to make it obligatory.<br /><br />In the last two years, more than 700 Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs) have been signed as instruments for exchange of information.<br /><br />For these instruments to become effective, it is vital that a consensus is built at the global level for applying these standards on past information, including banking information, so that earlier tax evasion can be properly investigated. This is essential if the spirit of the statement that &ldquo;the era of bank secrecy is over&rdquo; is to be respected and promoted, he said.<br /><br />India also committed a donation of euro 3,20,000 to the Global Forum on Transparency and Exchange of Information for Tax Purposes to enable it to carry out this work effectively and efficiently.<br /><br />There is a lot of pressure on the government back home to tackle the black money issue. India managed to get the issue reflected in the G20, despite no other country specifically raising the issue. India is believed to have pushed very hard to get the G20 in taking up the issue.<br /><br />After the Pittsburg declaration many of the countries have extended cooperation for sharing information related to banking but India wants the process should be expedited and some information relating to past transactions is also needed, particularly from Switzerland and other tax havens where large amount of money is being deposited from different parts of the world.</div>                                                           
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    <br><a href="http://www.business-standard.com/india/news/g20-backs-indiablack-money-hunt/452701/" class="re" target="_blank">The Business Standard, 16 October, 2011, http://www.business-standard.com/india/news/g20-backs-indiablack-money-hunt/452701/</a><div class="clear"></div>
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Home हिन्दी

G20 backs India on black money hunt by Vrishti Beniwal

Published on Oct 16, 2011   Modified on Oct 16, 2011

India on Saturday managed to get backing of the world’s 19 most powerful economies on the issue of sharing tax information, as the G20’s draft communiqué for the first time took note of New Delhi's concerns. The draft, however, remained silent on recovery of ill-gotten wealth stashed in tax havens. The draft communiqué, to be issued by G20 finance ministers and central bank governors later on Saturday, has resolved to address issues relating to the importance of comprehensive tax information exchange, and, in particular, encourage authorities to continue their work in the global forum to assess and better define the means to improve it. “For the first time, there is an acceptance that the G20 will put its weight behind obtaining information. This is a big victory for India,” Department of Economic Affairs Secretary R Gopalan said. In his bilateral meetings with finance ministers of Australia and France, Finance Minister Pranab Mukherjee said this was an important takeaway India expected from the Cannes summit. In his intervention on Financial Regulation at a G20 session, Mukherjee said tax evasion and illicit flows have posed serious challenges to the efforts of the countries to raise revenue for development and to the growth of the world economy. He reiterated that automatic exchange of information was one of the most effective ways to improve voluntary tax compliance, and there was a need to make it obligatory. In the last two years, more than 700 Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs) have been signed as instruments for exchange of information. For these instruments to become effective, it is vital that a consensus is built at the global level for applying these standards on past information, including banking information, so that earlier tax evasion can be properly investigated. This is essential if the spirit of the statement that “the era of bank secrecy is over” is to be respected and promoted, he said. India also committed a donation of euro 3,20,000 to the Global Forum on Transparency and Exchange of Information for Tax Purposes to enable it to carry out this work effectively and efficiently. There is a lot of pressure on the government back home to tackle the black money issue. India managed to get the issue reflected in the G20, despite no other country specifically raising the issue. India is believed to have pushed very hard to get the G20 in taking up the issue. After the Pittsburg declaration many of the countries have extended cooperation for sharing information related to banking but India wants the process should be expedited and some information relating to past transactions is also needed, particularly from Switzerland and other tax havens where large amount of money is being deposited from different parts of the world.

The Business Standard, 16 October, 2011, http://www.business-standard.com/india/news/g20-backs-indiablack-money-hunt/452701/

Tagged with: black money Corruption

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