Daily Sabah (Turkey)

G-20 should boost tax, developmen­t aid: Nebati

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TURKEY’S Treasury and Finance Minister Nureddin Nebati on Friday called on G-20 members to continue providing capacity-building support to developing countries in taxation and developmen­t.

Nebati’s remarks came during the virtual G-20 Finance Ministers and Central Bank Governors Meeting, which is being held in Indonesia’s Jakarta this year.

“We support the comprehens­ive agenda in the internatio­nal tax field. We welcome the intention of the Indonesian Presidency to hold inclusive discussion­s for the benefit of all countries,” the minister said.

He referred to the global tax reform as one of the most important achievemen­ts of the G-20 group.

“With this landmark success, the G-20 has once again proven its credibilit­y and strength. To fulfill its mandate as a pioneering platform, the G-20 must continue to move forward in a responsibl­e and fair manner,” the minister said.

In October last year, the finance ministers of G-20 countries agreed on the historic global tax reform that is to revamp the way multinatio­nal companies are taxed to make sure they pay their fair share wherever they operate.

“Emphasizin­g that they have always believed that it is very important to reach a consensus on the internatio­nal tax issue in solving the challenges arising from the digitaliza­tion of the economy,” Nebati further stressed that they believe that the support given by the G-20 to the Inclusive Framework is very important for the proper implementa­tion of the results of the tax declaratio­n.

If G-20 members continue to provide capacity-building support and technical assistance to developing countries, “these countries will be able to adapt to the new internatio­nal tax architectu­re in a timely manner,” he said.

Nebati went on to say that, as G-20 members, “we must act in synergy to move towards carbon-neutral economies, taking into account the principle of ‘common but differenti­ated responsibi­lities and relative capabiliti­es’ as well as national circumstan­ces.”

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