In US, FM calls for infra investments, simple international taxation rules

Washington, October 13, 2022

Finance Minister Nirmala Sitharaman on Thursday emphasised on infrastructure investments and simplification of international taxation rules, while participating in the ongoing G20 Finance Ministers and Central Banks Governors meeting (G20FMCBG) here.

During her interventions in the conference, which is taking place on the sidelines of the IMF-WB annual meetings, Sitharaman focussed on infrastructure investments and international taxation.

On scaling up sustainable and digital infrastructure investments, she highlighted the need to leverage private sector participation.

The Finance Minister also spoke on mobilising finance at sub-national level for inclusive and quality infrastructure.

The last session of the ongoing G20FMCBG meeting saw discussions on the progress made on agenda of international taxation during this year.

On the two-pillar solution, Sitharaman called for participative engagement of all jurisdictions in negotiations and prioritising capacity building.

She also said that international tax rules should be simple, administrable and generate meaningful revenue in developing countries.

The Finance Minister also called for an effective tax reporting regime and information exchange between jurisdictions for crypto assets to combat offshore tax evasion.

[The Business Standard]