New Delhi: US Secretary of the Treasury Janet Yellen spoke with Finance Minister Nirmala Sitharaman on Tuesday and mentioned that the US and India have a shared curiosity in implementing a strong world minimum tax. “Earlier today, Secretary of the Treasury Janet L. Yellen spoke with Finance Minister of India Nirmala Sitharaman. Secretary Yellen discussed that the United States and India have a shared interest in implementing a robust global minimum tax,” the US Department of the Treasury mentioned in a launch.
The treasury division assertion mentioned that Yellen careworn the significance of partnership with India within the G20 and OECD to grab a once-in-a-generation alternative to remake the worldwide tax system to assist the worldwide economic system thrive.Â
Earlier this month, the Group of Seven (G7) superior economies introduced that they’ve come to a preliminary settlement to set a worldwide minimum company tax price of 15 per cent.
The proposal will subsequent go to the OCED (Organisation for Economic Co-operation and Development) and G20 international locations for additional dialogue. Also Read:Â Two drones sighted in Jammu and Kashmir, safety forces on alert
According to the specialists, the key economies have been aiming to stop multinational corporations from shifting income to low-tax territories no matter the place their gross sales are made. Back in March, Finance Minister Sitharaman held a dialogue on the worldwide financial outlook with Yellen, whereby the latter appreciated India`s contribution to the world`s vaccine efforts. Also Read:Â Petrol, Diesel Prices Today, June 30, 2021: Rates stay unchanged, verify costs in your metropolis
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