United Nations: India has contributed $100,000 to a UN fund to help developing countries actively participate in the discussion of tax issues, becoming the first country to make the contribution.
The UN Trust Fund for International Cooperation in Tax Matters (the UN Tax Fund) received its first financial voluntary contribution from India, the UN Department of Economic and Social Affairs Office for Financing for Development Office announced.
The UN Tax Trust Fund aims to support the work of the Committee of Experts on International Cooperation in Tax Matters (the UN Tax Committee).
Voluntary contributions for the fund have been called for by the UN and the committee since its establishment in 2006.
The call for contributions was also emphasised in the Addis Ababa Action Agenda adopted at the third International Conference on Financing for Development in 2015, the UN department said.
India became the first country to respond to the call with an initial contribution of $100,000 that will be dedicated towards ensuring greater support for developing countries’ participation in the sub-committee meetings of the UN Tax Committee, which are currently unfunded.