Summary
They talked about how to make tax rules fair and easy.
They started new groups to keep helping each other.
Key Points
3 points1
Finance Minister Nirmala Sitharaman opened the meeting.
2
Ten BRICS countries shared ideas about taxes.
3
Two new groups were created to study tax rules and money data.
New Words to Learn
17 wordsinaugurated
started an important meeting
BRICS
group of ten big countries that work together
tax
money people pay to the government
chairship
being the leader of a group for a time
cooperation
working together
technology
tools like computers
digital infrastructure
online systems that help work
institutional mechanisms
ways the groups stay organized
multilateral
involving many countries
framework
big plan or set of rules
international taxation
rules about taxes between countries
transfer pricing
how companies set prices when they trade with each other
revenue statistics
numbers about how much money is collected
capacity building
helping people learn new skills
cross-learning
learning from each other
terms of reference
guidelines for a group
progress report
paper that tells what has been done
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