Thank you Mr. President for giving me the floor, Good afternoon colleagues ,

At the outset, I would like to congratulate the Committee of Experts on International Cooperation in Tax Matters for their extensive work this week.

From the presentations made by the panelists this morning, one appreciates the important contributions made by the committee in developing important tools and guidelines as to how countries can work together on tax issues. In addition to its major accomplishments like the UN Model Tax Convention, the Manual for Negotiations of Bilateral Tax Treaties between developed and developing countries and the Code of Conduct on Cooperation in Combating International Tax Evasion, the Committee has also done exemplary work in the area of capacity-building on international tax matters.

Mr. President,

While the work done by the committee for greater information exchange and capacity building is good, it cannot be a substitute for genuine and equitable multilateralism in deciding global norms and standards on taxation.

To meet the ambitious targets of 2030 Agenda for Sustainable Development, adequate means of implementation are required. Tax revenue is the most important means for the developing countries for mobilizing resources for meeting the Sustainable Development Goals (SDGs). Increasingly globalised nature of business in today's interconnected world requires tax policies with a perspective beyond national borders. More importantly, it requires international Cooperation and strengthening of institutional arrangements .

Mr. President,

India is of the consistent view that the Committee should be upgraded into an intergovernmental body. This would be very crucial for the effective implementation of the 2030 agenda. India believes that implementation of a truly universal agenda would need a platform where all countries have equal voice on the issues related to international taxation.

We look forward to upgradation of the Committee, to an inter-governmental subsidiary body of the ECOSOC, with experts representing their respective governments. This would provide the Committee an enhanced legitimacy, accountabil ity and authority and consequently enhanced impact of its work. This would also strengthen the relationship between taxation and development by providing a voice to the developing countries and a balance between North and South.

Mr. President,

Let me conclude by congratulating you for your leadership in facilitating the council to adopt a resolution this October for increasing the Committee's engagement with ECOSOC. We welcome the decision of holding of one session of the Committee in New York in the spring and another in Geneva in the fall, beginning next year.

I thank you.