July 1, 2021
1 min read

US, India discuss shared interest in robust global minimum tax

Earlier this month, at the 47th G-7 Summit held in Cornwall, UK, member nations had agreed to back a new global minimum tax rate of at least 15% that companies would have to pay…reports Asian Lite News.

US Secretary of the Treasury, Janet L Yellen on Tuesday called up Union Finance Minister, Nirmala Sitharaman to discuss that Washington DC and India have shared interests in implementing a robust global minimum tax.

This is the second time since March, 2021, the US Treasury Secretary Yellen had spoken with Finance Minister Nirmala Sitharaman.

According to a statement from the US Department of Treasury, Yellen stressed the importance of partnership with India in the G20 and OECD to seize a once-in-a-generation opportunity to remake the international tax system to help the global economy thrive, the release further said.

Earlier this month, at the 47th G-7 Summit held in Cornwall, UK, member nations had agreed to back a new global minimum tax rate of at least 15% that companies would have to pay.

The pact paves the way for levies on multinationals in countries where they make money, instead of just where they are headquartered.

The global minimum tax could help countries collect more taxes from big companies and enable governments to impose levies on the US tech giants.

During her phone call with Finance Minister Nirmala Sitharaman in March 2021, US Treasury Secretary Yellen had appreciated India’s role as a critical partner in fighting the COVID-19 pandemic and had discussed the global economic outlook. (INN)

ALSO READ-Nirmala announces Rs 3 lakh cr collateral free loans for MSMEs

READ MORE-BUDGET 2021: Nirmala replaces ‘bahi khata’ with ‘Made in India’ tablet

Previous Story

India has largest solar programme, says Jaishankar

Next Story

Germany completes troop pull-out from Afghanistan

Latest from -Top News

Pakistan Slams IWT Move as ‘Act of War’

Islamabad also said that India’s decision to suspend the Indus Waters Treaty (IWT) will be considered as an “act of war”…reports Asian Lite News The high-level emergency meeting of Pakistan’s National Security

Modi: We’ll Hunt Them Down

The Prime Minister thanked nations that extended support to India in the aftermath of the terror attack…reports Asian Lite News In his first address after the horrific terror attack in Pahalgam, Jammu

Moscow Steps Up Afghan Diplomacy

Russia sees a potential economic partner in the Taliban authorities, who praised Moscow for scrapping the “terrorism” label last week…reports Asian Lite News Russia has announced that it will elevate the Afghan

World leaders condemn Kashmir terror attack 

Strong messages of condemnation of the terror attack came from leaders in different parts of the world including the US, Russia, UAE, Israel, Singapore, France, Sri Lanka and Iran  World leaders strongly

India downgrades ties with Pakistan 

The decision — which also included the downgrading of diplomatic ties with Pakistan — came after a meeting of the Cabinet Committee on Security (CCS), chaired by the PM   India on
Go toTop

Don't Miss

Pollachi’s leap raises eyebrows

The move is set to elevate Pollachi to major city

Indian Navy sail training ship visits Oman

INS Sudarshini is an indigenously built Sail Training Ship (STS)