Timely international tax information interchange is required due to digitalization and innovative financial products.

Finance Minister Nirmala Sitharaman on Tuesday, December 2, said with the growing digitalization of the economy and appearance of new financial products, countries globally will have to cooperate with prompt exchange of information, while guaranteeing justice and public faith in the tax system. Speaking at the 18th Global Forum Plenary meeting, Sitharaman said technology techniques like artificial intelligence, together with judgement, should be utilized to ensure that tax information transferred among jurisdictions leads to demonstrable benefits.