India To Stand Against 'Mandatory Arbitration of Tax' At G20 Summit

BENGALURU: All eyes are now on the upcoming G20 Summit which is scheduled for 15^th and 16^th November in Brisbane. This is the most important event in a G20 year for all the leaders. The general topics of focus for this year would be on anti-corruption, development, energy, employment, tax among other common issues. For India the main focus would be tax disputes arising out of cross-border transactions.

India opines that these disputes should not be “mandatorily” dragged to international arbitration, Therefore India will voice its opposition on the same in the summit- as reported by Indian Express. This is a part of the suggestions of the G20-Organization of Economic Cooperation and Development (OECD) initiative for dispute resolution mechanism, proposed in, what is being called Base Erosion and Profit Shifting (BEPS). BEPS will essentially provide countries with domestic and international instruments that will better align rights to tax with economic activity.

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