4th International Tax Dialogue was held on Tax and Inequality

International Current Affairs 2011. The 4th International Tax Dialogue (ITD), a global conference on Tax and Inequality was inaugurated by the Finance Ministry of India from 7 December to 9 December 2011.

Created On: Dec 26, 2011 17:59 ISTModified On: Dec 27, 2011 14:58 IST

The 4th International Tax Dialogue (ITD), a global conference on Tax and Inequality was inaugurated by the Finance Ministry of India from 7 December to 9 December 2011. Indian Finance Minister Pranab Mukherjee inaugurated the three-day Tax meet.

More than 400 senior tax policymakers from almost 90 countries attended it including Deputy Managing Director of the International Monetary Fund – Min Zhu, World Bank Vice President – Otaviano Canuto, and Deputy Secretary General of the Organization for Economic Cooperation Development – Rintaro Tamaki.

The ITD is a joint initiative of various organisations working on tax issues – the IMF, the OECD, the World Bank, the European Commission, the IADB, and CIAT. This conference provides an opportunity to address how taxation can be seen as a part of the solution to growing inequalities in income and wealth around the world. The use of plenary and parallel sessions, with active country participation, allows a peer dialogue between Ministers of Finance and Heads of Revenue Administration internationally.

Issued discussed
•    Design of growth-enhancing and equitable tax systems
•    Administrative challenges, issues and solutions for fair tax systems
•    Income taxes, progressivity and inequality across regions
•    Fair tax systems: vital for state-building and an exit from aid dependency
•    Informality, inequality and the role of the tax systems
•    Gender friendly tax systems and inequality
•    Taxation of elites and inequality

Highlights
•    More global cooperation is required to tackle black money in India: annual illicit capital outflows from emerging and developing economies has been estimated at $725-810 billion
•    Direct Taxes Code (DTC) has been proposed in India: DTC seeks to replace the archaic Income Tax Act, 1961 and thereby modernize the taxation regime. It’s supposed to be implemented from 1 April 2012
•    Uruguay signed 7 new agreements providing for the exchange of tax information

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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