Finance Minister Arun Jaitley on Tuesday embarked on a four-day visit to Paris during which he will address foreign investors and sign the OECD pact that aims to check cross border tax evasion by MNCs. Jaitley will deliver the keynote address at the OECD meeting on Wednesday and participate in a panel discussion on ‘Stocktaking on Globalisation’.
Other participants in the panel discussion include OECD Secretary General Angel Gurria and Denmark Minister of Foreign Affairs Anders Samuelsen. He will also participate in discussion sessions on ‘The Challenges of Globalisation and the OECD’ and ‘Cashless Society and Fintech’.
He will also hold a bilateral meeting with Gurria, as well as Denmark Foreign Minister Anders Samuelsen and Finland Minister of Foreign Trade and Development Kai Mykkanen.
“Thereafter, the Finance Minister will participate in the Signing Ceremony for BEPS Convention and will make a statement on the occasion of the Signing Ceremony,” a statement by the Finance Ministry said.
The Union Cabinet had last month approved signing of the multilateral convention of the Organisation for Economic Cooperation and Development (OECD). The convention is an outcome of the OECD-G20 BEPS project to tackle base erosion and profit shifting (BEPS) which is resorted to by MNCs through tax planning strategies by exploiting gaps and mismatches in tax rules.
