OECD Current Affairs, GK & News

India joins G20-OECD Tax Framework deal

India and majority members of OECD and G20 Inclusive Framework on Base Erosion & Profit Shifting adopted a high-level statement that outlines a consensus solution in a bid to address tax challenges that are arising from digitalisation of economy. Key Points This proposed solution comprises of two components: First pillar is about reallocation of additional ..

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What is Significant Economic Presence (SEP) principle?

India recently notified Digital Tax threshold of two crore rupees and 300,00 users under the Significant Economic Presence principle. This threshold was notified for non-resident technology firms such as Netflix, Facebook, Google, to pay tax in India. The principle was first introduced in the Finance Bill 2018-19. It was adopted to address the challenges of ..

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European Union bans Export of Plastic Waste to poor countries

The European Union recently announced that it is to completely ban the exports of unsorted plastic to poor countries. The new rules of the European Union will amend the 2006 Waste Shipment Regulation. The new rules are to ban the exports to less industrialised nations outside OECD. Highlights The new rules are a part of ..

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Union Cabinet: MoU between India and Spain in Astronomy approved

On November 4, 2020, the Union Cabinet chaired by PM Modi approved the Memorandum of Understanding signed between India and Spain. The MoU will facilitate scientific and technical collaborations between the countries in the field of Astronomy. Key Highlights The MoU was signed between the Instituto de Astrofiscia de Canarias of Spain and the Indian ..

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First Meeting of G-20 Anti-Corruption Working Group held

On October 22, 2020, the first ministerial meeting of G-20 anti-corruption working group was held. Saudi Arabia becomes the first country to host the meeting. Highlights The Anti-Corruption Working Group of G-20 was established in June 2010 at the Toronto Summit, G20. The main objective of the group is to make suggestions on boosting international ..

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