Follow Us:
Friday, July 20, 2018

Automatic exchange of tax info, balanced growth on G-20 agenda

India will push for a reduction in the remittance costs of non-residents at the summit and seek a dialogue on gas markets.

Written by Shruti Srivastava | New Delhi | Published: November 11, 2014 1:43:27 am

Prime Minister Narendra Modi would attend the G-20 summit later this week where world leaders would come together for discussing issues including automatic exchange of tax information, taxation of large companies operating digitally, and a comprehensive strategy for strong, sustainable and balanced growth.

Official sources said that the leaders will also discuss reducing the gender gap in the labour force alongside global infrastructure improvement strategies.

In the G-20 advisory committee meeting held on Monday, the agenda for the G-20 leaders’ summit and the “likely options for India on different issues were discussed”, the sources said. The meeting was attended by finance minister Arun Jaitley, MoS for finance Jayant Sinha, chief economic advisor Arvind Subramanian, railway minister Suresh Prabhu who is the Modi’s sherpa in G-20, secretaries of the revenue, economic affairs, environment and agriculture department along with representatives from RBI and the ministry of external affairs.

“The major issues include framework on global economy, the development outlook and risks in advance economies and emerging markets; reduction of gender gap in labour force by 25 per cent by 2025; infrastructure development for improving domestic investment environment; automatic exchange of information; and base erosion profit shifting (BEPS),” the sources added. Further, Australia’s proposal of setting up a global infrastructure hub in Sydney would also be taken up. Australia, the host of the two-day G-20 summit on November 15-16, has proposed setting up the hub for closing the “information gap” between potential investors and infrastructure projects to spur world economies.

As regards India, it will push for a reduction in the remittance costs of non-residents at the summit and seek a dialogue on gas markets. A PMO statement said that India will highlight the importance of global cooperation on black money in the summit at Brisbane.

For all the latest Business News, download Indian Express App