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Feb 04, 2025
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India asks whether global tax deal can work after US withdrawal
India is assessing whether a global corporate tax deal agreed between 140 nations can work following U.S. President Donald Trump's withdrawal from the landmark 2021 arrangement, a senior bureaucrat in the finance ministry said.
Last month, Trump declared the global corporate minimum tax deal "has no force or effect" in the U.S., effectively removing his country from it.
"If you say that the U.S. as a country goes away, then I think we will have to evaluate whether the whole framework will work," Finance Secretary Tuhin Kanta Pandey told Reuters in an interview on Sunday.
After years of stalled negotiations on global tax issues hosted by the Paris based-Organisation for Economic Cooperation and Development (OECD), a global deal to ensure big companies pay a minimum tax rate of 15% was sealed in 2021.
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