Entertainment » OtherPosted at: Oct 16 2016 9:42PM Need to work out mechanism among BRICS nations on issue of black money, tax evasion, corruption: OfficialBenaulim, Goa, Oct 16 (UNI) Union Secretary for Economic Relations Amar Sinha today said that there was need to work out a mutually acceptable mechanism among BRICS countries to ensure that multi-national companies (MNCs) do not doge taxes, along with norms to curb black money and bring to book those accused of corruption and evasion of taxes. Responding to a question during briefing to media persons, he said, ''Another key issue that we are pushing, is the issue of tax evasion, black money and corruption. Tax evasion, because under the complex international tax architecture, there are companies especially MNCs and others which have a presence across borders, they end up paying no tax anywhere and they shift their profits.” “So one of the key ideas is that the taxation and the BRICS leaders have agreed, that the taxation should happen at the point where the activity takes place, not where perhaps their registered headquarters are or where their main subsidiary is or the holding company is. That is one way of sort of evading taxes and there are companies which are not paying taxes anywhere,” he said, adding there was also need to have mutually agreeable norms to bring to book white collar criminals who cross international borders to save themselves from action.Please log in to get detailed story.Tags: #Need to work out mechanism among BRICS nations on issue of black money# tax evasion# corruption: Official