<p>The 31-member Organisation for Economic Cooperation and Development (OECD), which includes the likes of the US, Japan and Germany, accounts for over 60 per cent of global output.<br /><br />"We are working towards further strengthening our ties with India. It also opens up the possibility of increased cooperation and eventually India becoming an OECD member," a top OECD official told PTI from Paris.<br /><br />Currently, New Delhi is working closely with the grouping on various issues, including initiatives for bilateral exchange of tax information, besides already being a part of some key OECD committees.<br /><br />OECD director at its centre for tax policy and administration Jeffrey Owens said the bloc is working towards strengthening its relationship with the BRIC (Brazil, Russia, India and China) nations. "India has contributed a lot (for various OECD initiatives) and can contribute much more in the future. It also has a seat on OECD fiscal affairs committee.<br />"As a whole, bilateral cooperation is a dynamic process and in the case of India, it is a matter of convergence of interests in the long-term," Owens noted.<br /><br />The 31-member grouping is expected to induct three more countries in the coming days. "Estonia, Slovenia and Israel have completed the formalities of becoming part of the OECD. These countries are expected to be inducted as members soon," Owens said. Recently, Chile joined as its 31st member.<br /><br />Apart from advising countries on diverse issues such as economy and financial aspects, the Paris-based bloc is also leading the initiatives on international tax standards.<br />Owens said New Delhi is a key player in OECD's efforts to strengthen global exchange of tax information. India is a vice-chair of a global peer review group that monitors the progress made by various countries in improving transparency and exchange of tax information.<br /><br />The peer review group would be part of a 'global forum on transparency and exchange of information for tax purposes' -- a grouping of the countries that works towards establishing international tax norms.<br /><br /></p>
<p>The 31-member Organisation for Economic Cooperation and Development (OECD), which includes the likes of the US, Japan and Germany, accounts for over 60 per cent of global output.<br /><br />"We are working towards further strengthening our ties with India. It also opens up the possibility of increased cooperation and eventually India becoming an OECD member," a top OECD official told PTI from Paris.<br /><br />Currently, New Delhi is working closely with the grouping on various issues, including initiatives for bilateral exchange of tax information, besides already being a part of some key OECD committees.<br /><br />OECD director at its centre for tax policy and administration Jeffrey Owens said the bloc is working towards strengthening its relationship with the BRIC (Brazil, Russia, India and China) nations. "India has contributed a lot (for various OECD initiatives) and can contribute much more in the future. It also has a seat on OECD fiscal affairs committee.<br />"As a whole, bilateral cooperation is a dynamic process and in the case of India, it is a matter of convergence of interests in the long-term," Owens noted.<br /><br />The 31-member grouping is expected to induct three more countries in the coming days. "Estonia, Slovenia and Israel have completed the formalities of becoming part of the OECD. These countries are expected to be inducted as members soon," Owens said. Recently, Chile joined as its 31st member.<br /><br />Apart from advising countries on diverse issues such as economy and financial aspects, the Paris-based bloc is also leading the initiatives on international tax standards.<br />Owens said New Delhi is a key player in OECD's efforts to strengthen global exchange of tax information. India is a vice-chair of a global peer review group that monitors the progress made by various countries in improving transparency and exchange of tax information.<br /><br />The peer review group would be part of a 'global forum on transparency and exchange of information for tax purposes' -- a grouping of the countries that works towards establishing international tax norms.<br /><br /></p>