BRICS nations vow to share tax information

Tribune News Service

New Delhi, December 6

The Heads of Revenue of the BRICS countries, namely Brazil, Russia, India, China and South Africa, have reiterated their commitment to actions taken to ensure the fairness of the international tax system particularly towards prevention of base erosion and shifting of profits, exchange of tax information and capacity building of developing countries.

The Heads of Revenue of the BRICS countries held a meeting on December 5-6 in Mumbai to discuss the potential areas of cooperation and exchange opinions and views based on their existing commitment to openness, solidarity, equality, mutual understanding, inclusiveness and mutually beneficial cooperation.

The meeting saw discussions on tax matters on contemporary and relevant topics such as sharing of best practices in BRICS countries on improving compliance through non-intrusive means and also the role of United Nations in becoming the voice of developing and emerging economies in setting international tax rules.