India is more likely to profit from the worldwide minimal 15 per cent company tax price pact inked by the world’s richest nations because the efficient home tax price is above the brink, and the nation would proceed to draw funding, tax specialists stated on Sunday.
The Finance Ministers of G-7 international locations, comprising US, UK, Germany, France, Canada, Italy and Japan, on Saturday reached a landmark deal on taxing multinational firms as per which the minimal international tax price can be not less than 15 per cent.
In addition they agreed to place in place measures to make sure companies pay taxes within the international locations the place they function, a transfer aimed toward plugging loopholes in cross-border taxation.
Nangia Andersen India Chairman Rakesh Nangia stated the G7 dedication to international minimal tax price of 15 per cent works effectively for the US authorities and most different international locations in western Europe. Nonetheless, some low-tax European jurisdictions such because the Netherlands, Eire and Luxembourg and a few within the Caribbean rely largely on tax price arbitrage to draw MNCs.
“The worldwide pact would