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G20 summit 2014
PM Narendra Modi urges for 'close coordination' on black money issue in G-20 Summit

PM Narendra Modi urges for ‘close coordination’ on black money issue in G-20 Summit

Prime Minister Narendra Modi raised the issue of black money during the ninth G-20 Summit meeting on Sunday. Prime Minister Narendra Modi urged every jurisdiction, especially tax havens, to provide information for tax purposes in accordance with treaty obligation. Narendra Modi said, “The new global standard on automatic exchange of tax information would be instrumental in getting information of unaccounted money hoarded abroad and enable its eventual repatriation. Close global coordination is important not just for addressing the challenge of Black money, but also security issues like terrorism, drug trafficking and smuggling.”  PM Modi is also expected to unveil a statue of the iconic freedom fighter in Brisbane’s Roma Street Parkland.