Top finance officials of the G-20 group countries agreed on Saturday that a global system is urgently needed to tax big internet companies like Google and Facebook. But it has to be done in such a way that conflicts are prevented. The G20 group countries have assigned this work to the Organization for Economic Cooperation and Development (OECD). He has been told to fix the system because some big companies are taking advantage of lower taxes in countries like Ireland and paying nothing as tax in countries where he is making big profits.
OECD chief Jose Angel Gurria Trevino was speaking here during a meeting of finance ministers and heads of central banks of the G20 group countries. The meeting has started on Saturday and will run till the weekend. In a discussion on this issue, French Finance Minister Bruno Le Maire said here, we have to hurry. At the same time, UK Finance Minister Philip Hammond said that properly taxing the big internet companies would in some way be a response to the injustice done to our people in our tax system.
Sitharaman informed about India’s efforts
Finance Minister Nirmala Sitharaman on Saturday mentioned the efforts being made by the Indian government to avoid taxation and evasion. She was addressing a seminar on international taxation during the G20 Finance Ministers’ meeting in Fukuoka, Japan. Finance Ministry tweeted, Sitharaman spoke about the efforts being made by the Indian government to tackle tax avoidance and tax evasion. A two-day meeting of G20 finance ministers and central bank governors began here on Saturday.
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