The 8th BRICS Summit held in Goa, India on October 15-16, 2016 reaffirmed the commitments of BRICS countries towards a global tax body following the lack of consensus at the Third Conference on Financing for Development. The summit addressed international tax matters related to illicit financial flows, tax evasion and trade mis-invoicing with a greater stress on the role of international cooperation. They also welcomed the implementation of internationally agreed standards like Base Erosion and Profit Shifting (BEPS) while asserting the institutional support developing countries need to expand their fiscal capacity.