Global Minimum Tax In Last Stages Of Finalisation: Nirmala Sitharaman

India is on the verge of finalising the specifications of the two-pillar taxation proposal at the G-20 forum, said Nirmala Sitharaman

India is on the verge of finalising the specifications of the two-pillar taxation proposal at the G-20 forum, Finance Minister Nirmala Sitharaman said on Wednesday.

Addressing ICRIER's annual international G-20 conference, she said that India is “very close” towards fine tuning the details of the proposed taxation system.

In July, 130 countries had reached a consensus to overhaul global tax norms in order to make multinationals pay taxes at a minimum of 15 per cent rate, irrespective of from where they are functioning.

However the Finance Ministry at that time had said that some key aspects like inclusion of share of profit allotment and scope of subject to tax rules were yet to be looked into.