Central Economic Intelligence Bureau
It is well recognised that the evasion of one tax usually entails evasion of other taxes as well. For the purpose of effective information gathering, collation and dissemination, a close co-ordination between the Agencies enforcing different tax laws is essential.
Hence, the Central Economic Intelligence Bureau was set up with the intention of creating a body which would coordinate and strengthen the intelligence gathering activities as well as investigative efforts of all the Agencies which enforce economic laws. Accordingly, the following functions have been entrusted to the Central Economic Intelligence Bureau:-
- To collect intelligence and information regarding aspects of the black economy which require close watch and investigation. Also, keeping in view the scene of economic offences, the Bureau is required to collect information and provide periodical and special reports to the concerned authorities;
- To keep a watch on different aspects of economic offences and the emergence of new types of such offences. The Bureau was made responsible for evolving counter-measures required for effectively dealing with existingand new types of economic offences;
- To act as the nodal agency for cooperation and coordination at the international level with other customs, drugs, law enforcement and other agencies in the area of economic offences....
- To implementation of the COFEPOSA(i.e. Conservation of Foreign Exchange & Prevention of Smuggling Activities Act, 1971 which provides for preventive detention of persons involved in smuggling and foreign exchange rackets under certain specified circumstances)
- To act as a Secretariat of the Economic Intelligence Council which acts as the apex body to ensure full co-ordination among the various Agencies including Central Bureau of Investigation, Reserve Bank of India, Intelligence Bureau etc.
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