G-20 meet: FM Sitharaman for info sharing on crypto, immovable assets

Tax evaders explore other avenues to shift their unaccounted wealth through investment in non-financial assets, Sitharaman pointed out

Finance minister Nirmala Sitharaman on Thursday called on the G-20 nations to examine the feasibility of bringing non-financial assets such as crypto and immovable properties under the purview of automatic exchange of information among countries. The move is meant to enhance tax transparency.

“Our investigations have shown that numerous layers of entities are often set up by tax evaders to conceal their unaccounted assets even though the automatic exchange of information framework provides for financial account information to various jurisdictions,’’ the FM said during the G-20 Ministerial Symposium on Tax and Development in Bali. 

Tax evaders explore other