Emphasing on the urgent implementation of common reporting standards on automatic exchange of information globally, Finance Minister Arun Jaitley said that it is the only way to tackle the black money.
The free flow of financial account information among countries on an automatic basis is the need of the hour, Jaitley said.
“The Common Reporting Standards on Automatic Exchange of Information should be implemented on a fully reciprocal global basis,” Jaitley said.
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