G20 talks tough on stashed funds

PARIS: The world's 20 most influential finance ministers are set to ask Europe to undertake "ambitious reforms", commit to capitalize banks and take on board India's concerns on toning up the tax information-sharing mechanism to prevent stashing of wealth overseas. "For the first time the communique has addressed issues related to the importance of a comprehensive tax information exchange and encourage authorities to continue their work... to improve it," said economic affairs secretary R Gopalan.

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