Finance Minister Sitharaman calls BRICS tax talks vital amid global rule changes

Finance minister Nirmala Sitharaman said efforts by BRICS nations to find common ground on international taxation matter greatly as global tax rules undergo renegotiation. Speaking at the BRICS tax heads meeting in New Delhi on Wednesday, she stated that the group's choices will shape multilateral tax talks. She noted that BRICS economies act as source jurisdictions and large developing nations with key perspectives on these negotiations. The bloc currently includes 11 members and 10 partners. During the BRICS summit under India's chairship in New Delhi, the countries committed to a fair and stable international tax system and engagement in forums like the UN Framework Convention on International Tax Cooperation. This proposed UN treaty aims for a transparent global tax system, with a text expected by 2027 following negotiations that started in 2025. Under India's leadership, BRICS set up working groups on international taxation, transfer pricing, and revenue statistics, alongside capacity-building programs and support networks. Sitharaman pointed out three core focus areas for the BRICS tax track this year: technology, administration, and people. She also mentioned that India shared its digital tools like faceless assessment and pre-filled returns with partners through the BRICS tax collaboration tool.