India posts IRS officers in 7 nations

As part of its strategy to curb offshore tax evasion and promote foreign investment, India has recently operationalised seven new Income Tax Overseas Units (ITOUs) in countries like Germany, USA and France. A similar Income Tax office in Cyprus has, however, not been activated as India, last year in November, classified the island nation as a notified jurisdictional area and suspended tax benefits.

Both the countries are on the talking table now to revoke the decision taken by India owing to non-cooperation in tax cases. Sources said the Finance Ministry has recently posted seven Indian Revenue Service (IRS) officers as First Secretaries in Indian Embassies in France, Germany, Japan, Netherlands, UAE, UK and USA after getting approvals from the Prime Ministers Office and the External Affairs Ministry in this regard.