Union Minister for Finance Nirmala Sitharaman inaugurated the 18th plenary meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in New Delhi on Tuesday.
India is hosting the plenary from 2nd to 5th December 2025 under the theme “Tax Transparency: Delivering a Shared Vision Through International Cooperation.” The Global Forum, which has 172 member jurisdictions including all G20 countries, is the world’s leading body for implementing international standards on tax transparency such as Exchange of Information on Request (EOIR) and Automatic Exchange of Financial Account Information (AEOI).
In her inaugural address, Finance Minister Nirmala Sitharaman said the global financial landscape has shifted from secrecy to transparency, which is now essential for fairness and responsible governance. She stated that transparency is a foundation of sustainable development and pointed out that when national wealth escapes legitimate taxation, it creates both revenue and development gaps.
The Finance Minister highlighted that voluntary tax compliance has improved in India through clarity, simplification and trust-building. She noted the importance of technology and AI in analysing information, while cautioning that innovation must be balanced with judgment and respect for procedure. She also emphasised that trust between jurisdictions has tangible economic value and called for greater cooperation in addressing emerging challenges such as digitalisation and new forms of beneficial ownership.
Addressing the plenary, Minister of State for Finance Pankaj Chaudhary said the meeting reflects the progress made in adopting a cooperative approach to tax administration. He said that accessing cross-border financial information, once a challenge, is now a practical reality that strengthens enforcement and improves taxpayer confidence. He stressed that transparency must advance along with facilitation to make compliance easier and called for continued capacity-building support for developing countries.
Secretary of the Department of Revenue Arvind Shrivastava described the Global Forum as one of the strongest examples of multilateral cooperation. He said the transition from banking secrecy to global transparency standards marks a major milestone. He informed that since 2017, India has effectively implemented the AEOI standard using secure IT systems and data analytics to convert information into actionable intelligence. He added that domestic initiatives such as the Black Money Act and the Benami Transactions Act, along with international cooperation, have strengthened India’s tax system. He identified digital economy taxation and crypto-asset reporting frameworks as urgent areas for collective action.
The Global Forum Plenary is the sole decision-making body of the organisation and includes peer review updates, panel discussions and progress reports on regional initiatives in Africa, Asia and Latin America. It also covers work on the Crypto-Asset Reporting Framework and the Group on Risk. Participation includes heads of tax administrations and competent authorities, with several jurisdictions represented at the ministerial level.
India has been a founding member of the Global Forum since 2009 and holds key positions in the Steering Group, Peer Review Groups for EOIR and AEOI, the Group on Risk and the CARF Group. India also served as Co-Chair of the Asia Initiative during 2023–24, supporting capacity-building for developing jurisdictions.