India Reevaluates OECD Tax Deal as US Exit Shakes Global Framework

India's Finance Ministry is critically assessing its participation in the OECD's global corporate tax agreement following Donald Trump's dramatic withdrawal from the landmark deal. Finance Secretary Tuhin Kanta Pandey emphasized that the US exit has created significant uncertainty for the 140-nation pact, which aimed to implement a 15% minimum tax on multinational corporations. With major US tech companies no longer bound by the agreement, India questions the framework's effectiveness. The deal, originally designed to prevent tax avoidance and generate up to $32 billion in global revenue, faces an uncertain future.
Source: Reuters, Economic Times