NEW DELHI
Finance Minister Nirmala Sitharaman on Wednesday said BRICS economies must ensure their perspectives are reflected in emerging global tax rules, as ongoing multilateral negotiations are expected to shape cross-border taxation for years.
Addressing the BRICS Tax Heads Meeting in New Delhi, Sitharaman said international taxation rules were being renegotiated through multiple multilateral processes, including the UN Framework Convention on International Tax Cooperation. She said decisions taken over the next few years would influence the global tax framework for a generation.
Sitharaman said BRICS countries, as large developing economies and source jurisdictions, had an important perspective on international taxation. She stressed that cooperation among tax administrations should create institutions and tools capable of continuing beyond India’s current chairship.
New working groups on international taxation, transfer pricing and revenue statistics are being developed to address common challenges. Sitharaman also highlighted India’s use of technology in tax administration, including faceless assessment, pre-filled returns, real-time invoice authentication and AI-enabled taxpayer assistance.
Revenue Secretary Arvind Shrivastava said the proposed International Taxation and Transfer Pricing Working Group would provide a permanent BRICS platform for sharing experience on treaty interpretation, transfer pricing audits and other tax mechanisms. He said a collective BRICS voice was needed in multilateral tax negotiations.
