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Chidambaram Calls For Greater BRICS Cooperation On Tax Admin

by Mary Swire, Tax-News.com, Hong Kong

22 January 2013


The BRICS countries must cooperate more in the area of tax administration, India's Finance Minister Shri P. Chidambaram has stressed, inaugurating the group's first Heads of Revenue meeting.

The two day meeting is the first of its kind for the BRICS, and aims at enhancing co-operation amongst the countries' respective tax authorities. Representatives of the Federal Revenue of Brazil, the Federal Tax Service of Russia, China's State Administration of Taxation, and the various South African and Indian tax administrations, have gathered in India, which currently holds the BRICS group chair.

According to the Indian Finance Ministry, participants are expected to discuss issues relating to international taxation, transfer pricing, cross border tax evasion and avoidance, and tax dispute resolution mechanisms.

Chidambaram is hopeful that the talks will lead to greater coordination among the BRICS, and expressed his belief that it would be a good idea to set out agreed stances on a number of mutual concerns. This would enable the BRICS to play a more proactive role in modifying and developing existing international standards on international taxation and transfer pricing, while safeguarding their own revenue interests, Chidambaram stressed.

TAGS: Russia | South Africa | Finance | Tax Rates | tax | India | China | transfer pricing | tax rates | Brazil | standards | services | Africa | Tax

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