"India has made suggestions to get its due share of taxing rights on excess profits of multinational companies," one official said. The suggestions have been made to the OECD and will be discussed "extensively" during the G20 meeting on Monday and Tuesday, the official said. Under the agreement, global corporations with annual revenues over 20 billion euros ($22 billion) are considered to be making excess profits if the profits exceed 10% annual growth. The 25% surcharge on these excess profits is to be divided among countries. The G20 host nation will also propose that withholding taxation be de-linked from the excess profit tax principle.

---

Persons: Sarita Chaganti Singh, Shivangi Acharya, Nikunj, Aftab Ahmed, William Mallard Organizations: Organisation for Economic Cooperation, Development, OECD, People's, India's Consumer, Thomson Locations: DELHI, India, Australia, Japan, Gujarat, U.S, New Delhi