G20 agrees to fight against international tax evasion by multinational companies

Monday, July 22nd 2013 - 06:14 UTC

Full article 4 comments

The G20 group of countries has officially supported plans to fight against international tax evasion by multinational companies. In a statement, the G20 countries agreed to exchange tax information and support the Organization for Economic Cooperation and Development (OECD) in its plans to prevent multinational companies from avoiding tax by moving their profits across borders. Read full article

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GeoffWard2
It's possible that the G20 could take a lesson out of CFK's book ..

loss of tax revenue caused by companies making their tax declarations in a 'tax-haven' might be arrested by
making a 'best assessment' of the trade volume over the period in their juresdiction,
the tax-take that might be expected to generate
... and the sequestering of company assets up to the calculated amount.

Done year-on-year across the G20, this might focus minds of CEs and shareholders.

Does this classify me as Kirchnerite/Bolivarian, socialist or communist?
It's certainly a non-liberal solution, and anathema to a Conservative, so I doubt that Fido's description of me as a 'neoliberal' will follow me much further ;-)
Jul 22nd, 2013 - 10:18 am - Link - Report abuse 0
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The Truth PaTroll
Europe and the USA do not have the guts to stand up to the multinationals. They'll talk a good talk at these meetings but quickly acquiesce to their corporate masters and allow them to avoid all taxes. They can always hike taxes on the poor anyway, as they always do in those morally bizarre nations.
Jul 22nd, 2013 - 01:50 pm - Link - Report abuse 0
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Elena
At this time of crisis, every state would be wise to tax acording to clear laws over multinationals.
Jul 22nd, 2013 - 03:50 pm - Link - Report abuse 0
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Kirk Nelson
Naturally, Tax Laws from 1920 caanot be applicable to today's economies. Tax rules alsmost 100 years old. However, I believe, that tax , money transfers and profits exchange of data among the 20G's is not enough measure and tool.
But, performing annual Auditing by a team composed by the 20G's members would be ideal control to ensure that major world corporations pay correctly their tax where applicable.
Kirk Nelson,
New York, USA
Jul 22nd, 2013 - 05:24 pm - Link - Report abuse 0
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