Oecd

Centre extends CBDT chief Ravi Agrawal's tenure by 1 year till June 2026

Ravi Agrawal, a 1988-batch officer of the Indian Revenue Service, was initially appointed as CBDT Chairman

OECD lowers India's FY26 growth forecast to 6.3%, UBS raises it to 6.4%

The OECD cuts India's FY26 growth forecast to 6.3%, citing risks from rising US tariffs and trade tensions, but expects private consumption to strengthen with rising incomes and moderate inflation

Trump tariffs to shrink US economic growth to 1.6%, global to 2.9%: OECD

The OECD notes that Trump's policies have raised average US tariff rates from around 2.5 per cent when he returned to the White House to 15.4 per cent, highest since 1938

OECD warns of tariff drag on growth as Trump vows to press on with levies

Trump, speaking aboard Air Force One on route to Washington overnight, also repeated he had no plans to create exemptions for the 25 per cent steel and aluminum tariffs that went into effect last week

India to assess benefits of OECD's global tax deal after US quits: Fin secy

India will evaluate the benefit of joining the OECD's global tax deal as the US deciding to withdraw from such a global pact has made it "impractical to implement", Finance Secretary Tuhin Kanta Pandey said on Tuesday. US President Donald Trump on January 20 in a Presidential memorandum had said that the "Global Tax Deal have no force or effect within the United States", thus nullifying the progress made so far by the Organisation for Economic Cooperation and Development (OECD) to bring 140 countries on the same platform to levy a minimum 15 per cent tax on profits of multinational corporates. To a question on what would be India's stand on the global tax pact, Pandey said the US exit has added a lot of uncertainty and if the United States is not joining it then such a pact doesn't work out. Pandey, in a post-Budget interaction of Assocham, said the tax deal is a multilateral approach where the US is much integrally needed. "If the US has now said that it is walking out of it, then

Trump's exit from tax deal may not hit India from collection standpoint

The decision of the Trump administration to withdraw from the OECD's global tax deal will not have any impact on India, but it will severely affect the progress made thus far in reaching an international consensus on global minimum tax, experts said on Tuesday. Soon after taking charge, US President Donald Trump in a Presidential memorandum said that the "Global Tax Deal have no force or effect within the United States", thus nullifying the progress made so far by the Organisation for Economic Cooperation and Development (OECD) to bring 140 countries on the same platform to levy a minimum 15 per cent tax on profits of multinational corporates. Nangia & Co LLP Managing Partner Rakesh Nangia said the impact of the US pulling out of the global tax deal would have monumental impact on the global tax landscape, especially for countries/jurisdictions which have already adopted/formulated rules in their domestic law for implementing Global anti-Base Erosion Model or GloBE rules (Pillar ..

India, China to Germany and UK: How major economies performed in 2024

While India and US have optimistic outlooks going into 2025, Germany and UK may see sluggish growth

Bankruptcies, suicide rise as Japanese struggle with mounting debt

While Japan is by no means alone in confronting a debt problem, salaries are the lowest of Group-of-Seven countries, and the central bank is raising borrowing costs while its peers cut them

OECD still sees total commitment from countries to finalise global tax pact

Washington has said that India, China and Australia remain hold-outs on U.S. demands over alternative ways to calculate transfer pricing

Global tax deal: Impact analysis done, govt may talk on Pillar 2 in Budget

Experts suggest India is still iffy on Pillar 1 and the equalisation levy may be extended beyond June 30

Union Budget 2024-25: Draft tax law likely for minimum levy on MNEs

The global minimum tax, also known as the Pillar Two regime, aims to prevent MNEs from shifting their profits to low-tax nations

Developed countries fulfilled $100 bn climate finance promise in 2022: OECD

Developed countries met their long-standing promise of mobilizing USD 100 billion a year to help developing countries mitigate and adapt to climate change in 2022, according to the latest data published by the Organisation for Economic Co-operation and Development (OECD) on Wednesday. This promise was made in Copenhagen in 2009 and was supposed to be met by 2020. Delays in achieving the USD 100 billion goal have eroded trust between developed and developing nations and have been a continual source of contention during annual climate negotiations. Developing nations argue they cannot be expected to reduce CO2 emissions faster if developed countries - historically responsible for climate change - do not provide enhanced financial support. According to the OECD, developed countries provided USD 115.9 billion in climate finance to developing countries in 2022. The data showed that public climate finance (bilateral and multilateral funds attributable to developed countries) accounted fo

OECD raises India's FY25 GDP growth projection by 40 basis points to 6.6%

Meanwhile, the agency also noted that private consumption has been less vigorous, confirming the preliminary findings from the latest household consumption expenditure survey

What makes wealth and inheritance taxes bad for India's economic progress

Taxation of wealth and inheritance has been tried in India before. These ideas should not be resurrected

In foreign direct investment, China's loss is not India's gain: OECD data

It's other countries that are mopping up what would have gone to China

OECD warns about debt market danger as maturity wall looms: Report

In a report published Thursday, the Paris-based organization estimated that total government debt issued by its 38 member countries will rise by $2 trillion to a record of $56 trillion this year

National interest trumps global trade

The Abu Dhabi conference highlights any progress for India at the WTO hinges on renewed US engagement in the trade body

WTO adopts new plurilateral agreement on domestic services regulation

The services domestic regulation agreement entered into force at the 13th Ministerial Conference in Abu Dhabi

OECD marginally raises India's GDP growth forecast to 6.2% for FY25

For FY26, OECD has kept its growth forecast for India unchanged at 6.5 per cent

World economy will slow in 2024 because of inflation, high rates, war: OECD

The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. The Paris-based Organization for Economic Cooperation and Development estimated Wednesday that international growth would slow to 2.7% in 2024 from an expected 2.9% pace this year. That would amount to the slowest calendar-year growth since the pandemic year of 2020. A key factor is that the OECD expects the world's two biggest economies, the United States and China, to decelerate next year. The US economy is forecast to expand just 1.5% in 2024, from 2.4% in 2023, as the Federal Reserve's interest rate increases 11 of them since March 2022 continue to restrain growth. The Fed's higher rates have made borrowing far more expensive for consumers and businesses and, in the process, have helped slow inflation from its four-decade peak in 2022. The OECD foresees U.S. inflation dropping from 3.9% this