A global forum of over 90 countries working towards improving tax transparency and information exchange will submit the peer review report on India at its meeting in Singapore this week.
The peer review process would assess legal and regulatory frameworks of each country, related to transparency and exchange of information for tax purposes.
Global initiatives for tax transparency has also seen Switzerland, famed for its banking secrecy, allowing others to get information on black money.
A meeting of over 200 delegates of the global forum would meet in Singapore on September 29-30 to discuss the first peer review reports of India, Bermuda, Botswana, the Cayman Islands, Jamaica, Monaco, Panama and Qatar, according to Paris-based OECD.
"The agenda of the (Singapore) meeting is primarily about discussing recent progress and adopting of peer review reports and improving the methodology. The report on India will be examined and will be published on September 30, as an outcome of the meeting," a senior OECD official told PTI from Paris.
The Organisation for Economic Cooperation and Development (OECD) coordinates activities on international tax standards.
India is also Vice-Chair of the Peer Review Group, which is part of the Global Forum on Transparency and Exchange of Information for Tax Purposes.
Apart from India, Japan, Singapore and Jersey are also Vice-Chairs of the Peer Review Group, which would be chaired by France.
The review process is in response to the G-20 leaders call to improve tax transparency worldwide, during their Pittsburgh Summit in September 2009.
There has been good progress in terms of exchange of tax between different countries, especially after G-20 leaders' pledge to crackdown on tax havens in April last year.
"Since April 2009, more than 400 agreements (providing for information exchange) have been signed. Since January 2009, we have more than 600 agreements signed," the OECD official said.
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