India has contributed $ 100,000 to a UN fund to help developing countries actively participate in the discussion of tax issue.
Becoming the first country
UN Trust Fund for International Cooperation in Tax Matters (the UN Tax Fund) received its first financial voluntary contribution from India. Voluntary contributions for the fund have been called for by the UN and the committee since its establishment in 2006. Call for contributions was also emphasised in the Addis Ababa Action Agenda adopted at the third International Conference on Financing for Development in 2015.
Addis Ababa Action Agenda and the UN Tax Trust Fund
- The Addis Agenda provides a global framework to ensure the effective mobilization of resources at the national and international level for sustainable development.
- Implementation of the Addis Agenda supports the implementation of the Sustainable Development Goals (SDGs) and is an integral part of the 2030 Agenda for Sustainable Development.
- In Addis Ababa, UN Member States committed to work together to enhance the UN Tax Committee’s resources to strengthen its effectiveness and operational capacity.
- The Addis Agenda also specifically called on the Member States to support the UN Tax Committee and its subsidiary bodies through the voluntary Trust Fund.
- It is to supporting the increased participation of developing country experts at subcommittee meetings.
UN Tax Committee : Subsidiary body of the UN Economic and Social Council (ESOSOC), has provided guidance on current issues such as double taxation treaties, transfer pricing (profit shifting) taxation of the extractive industries and taxation of services.
Source : Economic Times, UN
GS II : Bilateral, regional and global groupings and agreements involving India