Story perspectives

Sitharaman Launches Two BRICS Tax Working Groups

By Drooid · Sep 24, 2026, 10:10 AM UTC · How we work

Summary

Story summary

Finance Minister Nirmala Sitharaman announced two new BRICS working groups on international taxation, transfer pricing and revenue statistics.
India contributed faceless assessment, pre-filled returns, real-time invoice authentication and AI-enabled taxpayer assistance via the BRICS Tax Collaboration Tool.
Working groups aim to create lasting mechanisms beyond India’s 2026 chairmanship.
China will assume the BRICS chair in 2027, continuing the tax cooperation agenda.

History

Historical Context

In 1995, the OECD released its Transfer Pricing Guidelines, establishing a global framework that curbed profit shifting and standardized multinational tax reporting. The guidelines were swiftly adopted by over 140 jurisdictions, including the United Kingdom, Germany, and Japan, reinforcing coordinated tax enforcement. Today, Finance Minister Nirmala Sitharaman launches BRICS working groups on taxation, echoing the OECD model as India’s 2026 chair passes to China in 2027. This alignment promises a unified tax data platform, potentially reducing base erosion across emerging economies and shaping future multilateral fiscal policies.

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Story summary

Finance Minister Nirmala Sitharaman announced two new BRICS working groups on international taxation, transfer pricing and revenue statistics.
India contributed faceless assessment, pre-filled returns, real-time invoice authentication and AI-enabled taxpayer assistance via the BRICS Tax Collaboration Tool.
Working groups aim to create lasting mechanisms beyond India’s 2026 chairmanship.
China will assume the BRICS chair in 2027, continuing the tax cooperation agenda.

1 / 2