New Delhi, July 1 -- Union Finance and Corporate Minister Nirmala Sitharaman on Tuesday said that India's tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs.

Speaking at the Third Plenary Meeting during the #FFD4 in Seville of Spain, the Finance Minister said, "We support international cooperation to modernise tax systems and curb illicit financial flows. India's comprehensive tax reforms and digital transformation in tax administration have increased revenue and reduced compliance costs."

"We believe that optimal regulation fosters innovation and stability. The Indian financial system promotes inclusivity through easier credit and lower compliance costs, especially for MSMEs...