The US India Strategic and Partnership Forum on Wednesday praised the Indian government’s role in the new global minimum corporate tax recently agreed by the Organization for Economic Co-operation and Development (OECD).
Nearly 140 countries, including India, signed a historic agreement on Friday to ensure that large companies pay a corporate tax rate of at least 15 percent, as well as a fairer system of taxing profits where they are made.
“(The) USISPF recognizes India’s role and supportive stance in this far-reaching agreement that ensures a fair international tax system geared towards a digitized and globalized world economy,” said Mukesh Aghi, chief executive officer of the India-focused corporate advocacy.
“(The) USISPF applauds the joint outcome many nations have achieved in the largest corporate tax reform in over a century,” said Aghi.
“The landmark tax treaty staged by the OECD is truly remarkable as it is expected to provide tax security, prevent double taxation, reduce compliance and litigation for multinational corporations,” he said in a statement.