2016 G20 Summit concludes in Hangzhou, China

Posted on:06 Sep 2016 18:15:20

2016 G20 Summit concludes in Hangzhou, China
06 September 2016 Current Affairs GK: The 2016 G20 Summit was held for two days on 4 September and 5 September 2016 at the Hangzhou International Exhibition Centre, Hangzhou, China.

The theme of 2016 G20 Summit was Toward an Innovative, Invigorated, Interconnected and Inclusive World Economy.

Highlights of 2016 G20 Summit  : G-20 leaders pledge have pledged to continue to work for a globally fair and modern international tax system, foster growth and refrain from competitive devaluation of currencies.

 They will continue the work on addressing cross-border financial flows derived from illicit activities, including deliberate trade mis-invoicing, which hampers the mobilisation of domestic resources for development. They vowed to go ahead on the ongoing co-operation on Base Erosion and Profit Shifting (BEPS), exchange of tax information, tax capacity-building of developing countries and tax policies to promote growth and tax certainty. 

They also vowed to use all policy tools to achieve the goal of strong, sustainable, balanced and inclusive growth. T

hey agreed at the summit that refugees are a global issue and the burden must be shared. They called for strengthening humanitarian assistance for refugees. The 2017 G20 summit will be held in Hamburg, Germany from 7-8 July 2017.

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