USISPF lauds India’s role in global minimum corporate tax

The US India Strategic and Partnership Forum on Wednesday recommended the Indian authorities’s position within the just lately agreed upon new global minimum corporate tax by the Group for Financial Cooperation and Growth (OECD) final week.

Almost 140 nations, together with India, on Friday signed as much as a historic deal to make sure massive corporations pay a company tax charge of at the least 15 per cent, in addition to a fairer system of taxing earnings the place they’re earned.

“(The) USISPF commends India’s position and supportive stand on this far-reaching settlement which ensures a good worldwide tax system aligned to a digitalised and globalised world financial system,” mentioned Mukesh Aghi, chief government officer of the India-centric enterprise advocacy group.

“(The) USISPF welcomes the collaborative end result arrived at amongst many countries on the largest corporate tax reform for over a century,” Aghi mentioned.

“The trail breaking tax deal orchestrated by OECD is actually exceptional as it’s anticipated to supply tax certainty, stop double taxation, scale back compliance and litigation for multinational corporations,” he mentioned in a press release.

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