New Delhi, Sept. 23 -- The effort by Brics countries to find common ground on international taxation is significant at a time when tax-related rules are being renegotiated around the world, finance minister Nirmala Sitharaman said.

The bloc has indicated that it intends to pursue the interests of the global South at multilateral forums, including the UN Framework Convention on International Tax Cooperation.

Speaking at the Brics tax heads meeting in New Delhi on Wednesday, the finance minister said the grouping's decisions will play a significant role in multilateral tax negotiations.

"Brics economies as source jurisdictions, as large developing economies, as countries that have built significant domestic tax capacity from a low base, ...