Daily Current Affairs : 18-December-2023

The Tax Inspectors Without Borders (TIWB) program, a joint initiative by the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), has recently been launched in Saint Lucia. India has been chosen as the Partner Administration, contributing Tax Experts to this 12-18-month initiative, marking its seventh involvement in supporting TIWB programs.

Objective of the Program:

The primary focus of the TIWB program in Saint Lucia is to enhance the effective use of the automatic exchange of information under the Common Reporting Standard (CRS) framework. The initiative, known as TIWA, aims to facilitate the transfer of tax audit knowledge and skills to developing country tax administrations. This will be achieved through a practical, hands-on, “learning by doing” approach.

India’s Contribution:

India’s role as the Partner Administration involves sending Tax Experts to Saint Lucia, who will actively contribute to the success of the program. This collaboration underscores India’s commitment to global cooperation in addressing tax-related challenges faced by developing nations.

Unique Aspects of Saint Lucia:

Saint Lucia, an Eastern Caribbean island nation, offers a unique backdrop for the TIWB program. With its distinct geographical features, including the iconic Pitons mountains on the west coast, the country provides a picturesque setting for the exchange of tax audit knowledge.

Interesting Tidbit about Saint Lucia:

Saint Lucia holds the distinction of being one of only two sovereign states in the world named after a woman. Moreover, it is the sole nation named after a human woman, with Ireland, in contrast, being named after a goddess.

Important Points:
  • Objective of the Program:
    • Focus on effective use of automatic exchange of information under CRS framework.
    • TIWA aims to transfer tax audit knowledge to developing countries.
    • Practical, “learning by doing” approach adopted for skill enhancement.
  • India’s Contribution:
    • India contributes Tax Experts to Saint Lucia for the 12-18-month initiative.
    • Highlights India’s commitment to global cooperation in addressing tax challenges in developing nations.
  • Unique Aspects of Saint Lucia:
    • Eastern Caribbean island nation with iconic Pitons mountains on the west coast.
    • Saint Lucia is one of only two sovereign states named after a woman.
    • Sole nation named after a human woman, distinct from Ireland named after a goddess.
Why In News

The Tax Inspectors Without Borders (TIWB) program, a collaborative effort between the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), was recently launched in Saint Lucia, aiming to enhance the country’s tax administration capabilities and foster sustainable economic development through international cooperation.

MCQs about TIWB Program in Saint Lucia

  1. What is the primary focus of the TIWB program in Saint Lucia?
    A. Strengthening diplomatic ties
    B. Enhancing tax transparency through CRS
    C. Promoting tourism initiatives
    D. Supporting climate change initiatives
    Correct Answer: B. Enhancing tax transparency through CRS
    Explanation: The program’s primary focus is on the effective use of the automatic exchange of information under the Common Reporting Standard (CRS) framework.
  2. How does the TIWB program transfer tax audit knowledge to developing countries?
    A. Through theoretical lectures
    B. Via virtual meetings
    C. Using a practical, “learning by doing” approach
    D. Through written reports
    Correct Answer: C. Using a practical, “learning by doing” approach
    Explanation: The TIWB program facilitates the transfer of tax audit knowledge and skills to developing countries using a practical, “learning by doing” approach.
  3. What is India’s role in the TIWB program in Saint Lucia?
    A. Financial contributor
    B. Hosting the program
    C. Partner Administration, providing Tax Experts
    D. Observer status
    Correct Answer: C. Partner Administration, providing Tax Experts
    Explanation: India has been selected as the Partner Administration and is contributing Tax Experts to the TIWB program in Saint Lucia.
  4. What unique feature distinguishes Saint Lucia among sovereign states?
    A. Being the smallest island nation
    B. Having the highest population density
    C. Named after a woman
    D. Having a parliamentary system of government
    Correct Answer: C. Named after a woman
    Explanation: The Saint Lucia is one of only two sovereign states in the world named after a woman, and it is the only one named after a human woman.

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