
India has supported African countries’ proposals on taxation at the United Nations. Going against countries like the United States and Britain, India supported the proposal of the 54-nation African Union as a result of which Africa got a big victory in the voting.
A proposal named ‘Promotion of Inclusive and Effective International Tax Cooperation at the United Nations’ was proposed there.
This proposal is for the uniformity in tax laws across the world. Apart from African countries, the argument of many developing countries in the world is that the current tax system is only benefiting developed countries like the United States and Britain. However, once this proposal is implemented, there will be equality in the tax situation across the world.
Now only developed countries have control over Organization of Economic Cooperation and Development (OECD). The organization’s rules only benefit multinational companies. Due to this rule, poor countries are getting less tax but rich countries are getting higher taxes. Such a proposal has been brought to the United Nations to improve it, it has been said on behalf of the developing countries. This proposal presented at the United Nations has been passed with the support of BRICS countries like India, China and Brazil.