India is likely to benefit from the global minimum 15 per cent corporate tax rate pact inked by the world’s richest nations as the effective domestic tax rate is above the threshold, and the country would continue to attract investment, tax experts said on Sunday.
The Finance Ministers of G-7 countries, comprising US, UK, Germany, France, Canada, Italy and Japan, on Saturday reached a landmark deal on taxing multinational companies as per which the minimum global tax rate would be at least 15 per cent. They also agreed to put in place measures to ensure businesses pay taxes in the countries where they operate, a move aimed at plugging loopholes in cross-border taxation.
Reference : https://www.zeebiz.com/india/news-india-likely-to-benefit-from-global-minimum-15-corporate-tax-pact-foreign-investments-to-continue-experts-158073
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