USISPF lauds India's role in global minimum corporate tax

The US India Strategic and Partnership Forum on Wednesday commended the Indian governments role in the recently agreed upon new global minimum corporate tax by the Organization for Economic Cooperation and Development OECD last week.

The US India Strategic and Partnership Forum on Wednesday commended the Indian government's role in the recently agreed upon new global minimum corporate tax by the Organization for Economic Cooperation and Development (OECD) last week. Nearly 140 countries, including India, on Friday signed up to a historic deal to ensure big companies pay a corporate tax rate of at least 15 per cent, as well as a fairer system of taxing profits where they are earned. ''(The) USISPF commends India's role and supportive stand on this far-reaching agreement which ensures a fair international tax system aligned to a digitalised and globalised world economy,'' said Mukesh Aghi, chief executive officer of the India-centric business advocacy group. ''(The) USISPF welcomes the collaborative outcome arrived at amongst many nations on the biggest corporate tax reform for over a century," Aghi said.

''The path breaking tax deal orchestrated by OECD is truly remarkable as it is expected to provide tax certainty, prevent double taxation, reduce compliance and litigation for multinational companies,'' he said in a statement.

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