AGENCIES /
Finance chiefs of major economies are debating over how to revise tax systems to ensure big companies pay their fair share and support economies as global growth slows. They called for the creation of a digital tax for multinational technology companies.
The aim is to prevent tax evasion and to modernise policies, as financial markets and businesses have been transformed by technology.
Speaking at the meeting, Japanese finance minister Taro Aso, said this could be the biggest reform of the long established international framework in over 100 years.
Meanwhile, talking to media persons on the sidelines of the summit, US treasury secretary Steven Mnuchin said that Washington is open to further negotiations with China on their ongoing trade battle. He, however, warned the US would press on with tariffs if a deal could not be reached.
US President Donald Trump is expected to meet his Chinese counterpart Xi Jinping at the G20 summit in Osaka on June 28-29. The leaders will possibly work on resolving their bruising standoff over trade and technology.
Piyush Goyal represents India
AMN / NEW DELHI
Commerce and Industry Minister Piyush Goyal is leading the Indian delegation for the two-day G20 Ministerial meeting on Trade and Digital Economy beginning at Tsukuba city in Japan today. Mr Goyal will discuss developments in the global trade situation, WTO matters and digital trade. He will also hold dialogue with other participating Trade Ministers on current international trade and investments.
The G-20 Trade Ministers deliberations will form part of the G-20 Summit Leaders agenda in the formal discussions and will also be a part of the Summit Declaration.
A Ministry of Commerce and Industry release said, Mr Goyal, will hold bilateral meetings on the sidelines of G20 to sensitize India’s core interests in trade and investment issues and build a coalition with like minded countries for defending the interests of developing countries.