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This is an archive article published on January 9, 2011

I-T offices soon in several foreign nations

The government may soon be able to obtain classified financial data from tax-haven countries.

The government may soon be able to obtain classified financial data from tax-haven countries and some foreign shores as it plans to set up new overseas Income Tax offices in countries like the US,the UK and Cyprus to liaise with local tax authorities.

The units will be manned by a senior Income Tax officer adept in handling tax evasion cases and international tax treaties and will help the department gather investments details of high-profile cases which the I-T is currently investigating.

The eight units will begin functioning in less than two months in the United States of America (USA),United Kingdom (UK),Netherlands,Cyprus,Germany,France,Japan and United Arab Emirates (UAE). Two such units in Singapore and Mauritius are already operational since last year.

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