Sitharaman Said – G20 Should Take Care Of The Interests Of Developing Countries In The Global Minimum Tax Agreement

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Finance Minister Nirmala Sitharaman on Thursday called on G20 countries to ensure that developing countries are protected from any “unexpected consequences” of the proposed global minimum tax deal in the G20.

The Finance Minister has said that to ensure a fair and inclusive tax system, it is necessary that all the members of the G20 inclusive framework participate actively in the finalization of the proposed deal to tax multinational companies. A provision for “meaningful revenue” should also be made for developing countries under the

Let us tell you that a total of 130 countries, including India, had agreed in July last year to change the global tax norms to ensure that MNCs pay taxes at a minimum rate of 15 percent wherever they operate. .

The finance ministry had then said that some important issues, including share in profit allocation and the scope of tax rules, were yet to be resolved and a consensus would be reached after working out the technical details of the proposal.