India on Friday signed the Convention on Mutual Administrative Assistance in Tax Matters, developed jointly by the Council of Europe and the Organisation for Economic Co-operation and Development (OECD), and opened for signature by the member-states of both organisations on January 25, 1988. All members of the G20 have now become signatories to the Convention. The Convention will have to be ratified by the Indian Parliament to become law. The Convention facilitates international co-operation for a better operation of national tax laws, while respecting the fundamental rights of taxpayers. The Convention provides for all possible forms of administrative co-operation between states in the assessment and collection of taxes, in particular with a view to combating tax avoidance and evasion. This co-operation ranges from exchange of information, including automatic exchanges, to the recovery of foreign tax claims. The Multilateral Convention on Mutual Administrative Assistance in Tax