Recently, the “Tax Inspectors Without Borders (TIWB)” program to be held in Seychelles has been launched in partnership with India.
It aims to help Seychelles strengthen its tax administration by transferring technical know-how and skills to tax auditors by sharing best audit practices.
The focus of the program will be on matters of pricing in the context of goods or service transfers in the tourism and financial services sectors.
So far, India has expressed its commitment to support Tax Inspectors Without Borders TIWB programs in Eswatini, Sierra Leone, Uganda and Bhutan.
Tax Inspectors Without Borders (TIWB) is a joint initiative of the United Nations Development Program (UNDP) and the Organization for Economic Co-operation and Development (OECD). It aims to share tax audit knowledge and skills with the tax administration in developing countries.
TIWB programs may include pre-audit risk assessment, testing techniques, audit issues involving transfer pricing issues, anti-avoidance regulations or sector-specific issues (such as natural resources, e-commerce, etc.).
Assistance relating to customs matters is not covered in TIWB. Also, it does not provide policy support and advice on legislative changes.
TIWB programs are flexible, and are tailored to suit the specific needs of the country.
Benefits of the TIWB Program:
- Creates greater certainty and consistency for the business as well as a more transparent investment environment.
- International dialogue on tax matters is promoted between the tax administration bodies of developed and developing countries.
Source – The Hindu