Tax Inspectors Without Borders (TIWB) Program launched in 2023
Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Program (UNDP) and the Organization for Economic Co-operation and Development (OECD), launched a program in Saint Lucia on December 14, 2023. India has been selected as the 'Partner Administration' in this program and will provide tax experts for this program.
The TIWB program in Saint Lucia is scheduled to last for 12-18 months, during which India, in collaboration with the TIWB Secretariat and with the support of UNDP Country Office, Barbados and the Eastern Caribbean, aims to empower Saint Lucia to enhance its tax administration. The primary focus of the program is to facilitate the transfer of technical knowledge and skills to strengthen the tax administration of Saint Lucia. The collaborative effort will also include sharing of best practices with emphasis on effective use of automated exchange of information under the Common Reporting Standards (CRS) framework.
The launch of this important event saw the virtual presence of prominent people from the tax and finance sectors. Smt. Pragya Sahay Saxena, Member (Legislation), Central Board of Direct Taxes (CBDT), Ministry of Finance, Government of India, played a key role in the launch through video conferencing.
Program Focus: CRS Framework and Best Practices
- The TIWB program in Saint Lucia aims to address key challenges in tax administration with a particular emphasis on the effective use of automated exchange of information under the Common Reporting Standard (CRS) framework.
- The CRS, developed by the OECD, facilitates the exchange of financial account information between participating jurisdictions, enhancing transparency and combating tax evasion.
- Furthermore, the program seeks to establish best practices in tax administration, taking advantage of India's rich experience in this field.
- By leveraging India's expertise, St. Lucia will benefit significantly in terms of streamlined processes, better compliance and a more robust tax infrastructure.
What is the TIWB Program?
This program is the seventh TIWB program that India has supported by providing tax experts. This continued commitment underlines India's dedication to promoting international cooperation and sharing its knowledge to strengthen global tax systems. The launch of the TIWB program in Saint Lucia marks an important step towards building stronger and more effective tax administrations globally. As India takes the lead in supporting this initiative, the collaborative efforts of countries under the TIWB umbrella promise a bright future for international tax cooperation, ultimately contributing to the economic growth and financial stability of countries around the world.