G20 countries are working on automatic exchange of data related to undisclosed "immovable properties" abroad beyond the current arrangement of sharing financial data, Central Board of Direct Taxes (CBDT) chairman Nitin Gupta said.
On the initiative of the Indian presidency, leaders of the G20 agreed to cooperate towards "a globally fair, sustainable and modern" international tax system and adopted the OECD Report on Enhancing International Tax Transparency on Real Estate in their Delhi Declaration on September 9.
The OECD report proposed automatic exchange of such information among countries on a real-time basis.
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