International Relations - Current Affairs for January, 2016

31 nations on 27th January 2016 have signed the Multilateral Competent Authority Agreement for boosting transparency un functioning of multinational enterprises through automatic exchange of country by country reports by tax administrators. Signing of the agreement marks a shift towards implementation of OECD/G20 Base Erosion and Profit Shifting (BEPS) project.

Union Cabinet chaired by PM Narendra Modi has provided ex post facto approval for MoU between India and Maldives signed in January 2014 on cooperation in the field of health. MoU covers cooperation in the area of exchange of training of medical doctors, officials, healthcare professionals and experts, assistance in development of human resources and establishment of healthcare facilities and medical as well as health research development. MoU covers cooperation in the field of management and health care sector as well as public health services and procurement of general and essential drugs and assistance in sourcing of drug supplies.

The agreement is for enabling people of both nations for availing retirement benefits within each country to boost bilateral business linkages. Australian Minister for Social Services Christian Porter and Minister for Small Business and Assistant Treasurer Kelly O’Dwyer indicated that the Commonwealth government wanted to ensure people living and working in more than one country are not disadvantaged. Agreement was signed on November 2014 and came into operation w.e.f January 1, 2016.