New Delhi, Oct. 5 -- The 11-member Brics grouping is creating new platforms for cooperation on international taxation, transfer pricing and revenue data. Brics accounts for about 39% of global GDP on a purchasing power parity (PPP) basis.

Mint explains the move and its significance, which could give major emerging economies a more structured way to compare tax practices, share data and coordinate their positions on cross-border taxation. This, in turn, could influence how members administer existing rules and, potentially, how international tax rules are debated and designed.

A company may be headquartered in one country, manufacture in another, sell in several markets and hold its intellectual property elsewhere. Tax authorities theref...