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India becomes 1st country to donate $100,000 to UN Tax-fund

29 Jun 2017 | By Roma Das
India contributes $100,000 to UN tax fund

India became the 1st country to contribute a sum total of $100,000 in order to help the developing countries participate in discussing tax issues.

This major contribution was announced by the UN Department of Economic and Social Affairs Office for Financing for Development Office.

India further expressed hope that other countries would follow suit which will help in the overall cause.

In context: India contributes $100,000 to UN tax fund

29 Jun 2017India becomes 1st country to donate $100,000 to UN Tax-fund

FunctioningWhat does the UN Tax Trust Fund do?

The UN Tax Trust Fund's main focus is to aid the work of the Committee of Experts on International Cooperation in Tax Matters.

The other committee which functions at par is the UN Tax Committee which provides guidance on current issues such as double taxation treaties, profit shifting and taxation of services.

It also provides guidance for international tax co-operation.

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Call for tax fund by United Nations

Tax fund explainedCall for tax fund by United Nations

The calls for voluntary contribution to the UN Tax Fund are being made since 2006 and it is incorporated in the Addis Ababa Action Agenda which was adopted in 2015.

The Addis Agenda calls for a global framework to ensure the effective mobilization of resources.

It also aims to work towards sustainable development.