Tuesday, August 30, 2016

Reporting formats for Exchange of Info under Tax Treaties

Subject: Format of reporting under Chapter-IX “Exchange of Information under Tax Treaties” of the Central Action Plan 2016-17-req

Kindly refer to Chapter-IX on Exchange of Information under (EOI) Tax Treaties of the Central Action Plan 2016-17 wherein certain Key Result Areas have been identified by the Board. The Central Action Plan mentions that reports on the action points identified have to be submitted by Pr.CCIT/DGIT(Inv.) to the JS (FT&TR-I) in the prescribed format to be circulated separately.

2. For Key Result Area No. 1 relating to outbound requests sent to foreign countries, quarterly report in respect of clarification and feedback shall be sent in the proforma as per Annexure A. Further, For Key Result Area No. 3 relating to inbound EOI rquests received from foreign countries, quarterly report shall be sent in proforma as per Annexure B.

3. For Key Result Area No. 2 on EOI and confidentiality trainings, the report should be sent by the Pr.CIT/Pr.DIT to the Pr. CCIT/DGIT(Inv.) as and when the training is conducted. The Pr. CCIT/DGIT(Inv.) shall compile the reports and send a consolidated quarterly report to the Board in the proforma as per Annexure C.

4. Your kind attention is also invited to Manual on Exchange of Information, particularly Chapter —III and Chapter-IV. Chapter-III deals with “Guidelines for making request for exchange of information“. Paragraph 3.10 prescribes the information to be maintained by CIT/DIT concerned. Relevant pages are enclosed. Chapter-IV deals with the “Guidelines for Handling the requests in specific cases from Foreign Tax Authorities“. Paragraph 4.6 prescribes the information to be maintained in the office of Director General. Relevant page is enclosed. It is requested that the Pr. CsIT/Pr.DsIT of your charge may be directed to ensure that information is maintained in the prescribed formats.

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