Offshore A/Cs: Multi agency group holds first meeting

The Multi Agency Group (MAG) set up to probe the ‘Panama Papers’ on Thursday held its first meeting here and chalked out an action plan including approaching tax haven Panama, global economic bodies and the journalist consortium that did the expose for obtaining documents. The meeting deliberated on the inputs relating to Indians whose names have figured in the expose on offshore entities allegedly floated by individuals and corporates. The top brass of the CBDT and representatives of the FIU, RBI and Foreign Tax and Tax Research (FT and TR) participated in the meeting held in the Finance Ministry here. A plan of action was charted by the agencies as part of which the Financial Intelligence Unit and the Income Tax department and FT and TR (under CBDT) will approach the International Consortium of Investigative Journalists.