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G-20 should boost tax, development aid: Turkish Finance Minister

Turkey’s Treasury and Finance Minister Nureddin Nebati, speaking at the G-20 Finance Ministers and Central Bank Governors Meeting on Friday, called on G-20 members to continue providing capacity-building support to developing countries in taxation and development.

The minister attended the meeting online, which is being held in Indonesia’s Jakarta this year.

“We support the comprehensive agenda in the international tax field. We welcome the intention of the Indonesian Presidency to hold inclusive discussions for the benefit of all countries,” Nebati said.

He referred the global tax reform as one of the most important achievements of the G-20 group.

“With this landmark success, the G-20 has once again proven its credibility and strength. To fulfill its mandate as a pioneering platform, the G-20 must continue to move forward in a responsible and fair manner,” the minister said.

In October last year, the finance ministers of G-20 countries agreed on the historic global tax reform that is to revamp the way multinational companies are taxed to make sure they pay their fair share wherever they operate.

“Emphasizing that they have always believed that it is very important to reach a consensus on the international tax issue in solving the challenges arising from the digitalization of the economy,” Nebati further stressed that they believe that the support given by the G-20 to the Inclusive Framework is very important for the proper implementation of the results of the tax declaration.

If G-20 members continue to provide capacity-building support and technical assistance to developing countries, “these countries will be able to adapt to the new international tax architecture in a timely manner,” he said.

Nebati went on to say that, as G-20 members, “we must act in synergy to move towards carbon-neutral economies, taking into account the principle of ‘common but differentiated responsibilities and relative capabilities’ as well as national circumstances.”

Source
dailysabah

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