Breaking News

You are here » Indian-Commodity  :  Economy  :  India urges UN to provide transparent platform for international taxation issues

23-May2018

India urges UN to provide transparent platform for international taxation issues

In order to have an equal voice on international taxation issues, India has urged the United Nations (UN) to provide a transparent platform for all member states. International taxation issue is perceived as 'skewed' in favour of those who make the rules. The counsellor in India's Permanent Mission to the UN Ashish Sinha highlighted that India has been of the view that the Committee of Experts on International Cooperation in Tax Matters Committee should be upgraded into an intergovernmental body. He added that for more effective implementation of tax standards universal membership is essential.

Sinha also said that India believes that implementation of a truly universal agenda would need a platform where all countries have equal voice on the issues related to international taxation. In order to safeguard the interest of all its members, he said that UN can provide this platform for open, transparent and inclusive processes. He added that this would also strengthen the relationship between taxation and development by providing a voice to the developing countries and a balance between North and South.

Ashish Sinha further said that in order to meet the ambitious targets of 2030 Agenda for Sustainable Development, adequate means of implementation are required. He also said that tax revenue is the most important means for the developing countries for mobilizing domestic resources for meeting the Sustainable Development Goals (SDGs). Increasingly globalised nature of business in today's interconnected world requires tax policies with a perspective beyond national borders. More importantly, it requires international cooperation and strengthening of institutional arrangements.


Related News

View all news

India one of the fastest growing large economies in the world: IMF

Emphasizing on several key reforms carried out by India in the last five years, the International Monetary Fund (IMF) stated that the country has been one of the fastest growing large economies in the......

Govt increases investment limit for availing income tax concessions by startups

The government has given a major relief to startups by enhancing definition of startups. It has decided to relax angel tax norms for startups, including increasing the investment limit to Rs 25 crore for......

India needs revolution in farm sector to achieve 9-10% GDP growth: Niti Aayog CEO

Niti Aayog CEO Amitabh Kant has stated that there is need to bring revolution in farm sector to attain 9-10% Gross Domestic Product (GDP) growth. He also said that there is a need to boost investment in......

Top News

View all news

Infosys to enter into agreement with The House Fund II

Infosys is going to enter into an agreement with The House Fund II, L.P., an AI-focused fund targeting startups from the University of California - Berkeley, committing to invest $10.0 million.......

EID Parry receives approval for investment Rs 70 crore in PSRIPL

EID Parry (INDIA) has received approval for investment upto Rs 70 crore in the equity share capital of Parry Sugars Refinery India (PSRIPL), a wholly owned subsidiary of the Company. The Board of directors......

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

State Bank of India (SBI) has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising at its meeting held on 22 March 2019 deliberated and accorded......