The Government of India has entered into Double Taxation Avoidance Agreements (DTAAs), Tax Information Exchange Agreements (TIEAs) and Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAC) with over 130 countries including tax havens.
These agreements allow exchange of information between countries for tax purposes including information pertaining to money laundering and funding. On request made by Government of India under the above agreements, these countries provide relevant information including information pertaining to money laundering and funding.
The Foreign Portfolio Investors (FPIs) which issue Offshore Derivative Instruments (ODIs) also known as Participatory Notes (PNs) are required to submit the details of their ODI/PN activity to Securities and Exchange Board of India (SEBI) in the prescribed format on monthly basis and the same is uploaded on the SEBI website.
