Summary
They talked about making tax systems fair and using new technology.
India will lead two new groups that study tax rules and money data.
Key Points
4 points1
Finance Minister Nirmala Sitharaman opened the meeting.
2
Countries in the BRICS group shared ideas about taxes.
3
New groups on international tax rules and revenue statistics were created.
4
A program to teach young tax workers was made a regular event.
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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