“The British, French and German governments launched a joint initiative on Saturday to crack down on tax avoidance by multinational companies that will be presented to a G20 finance leaders meeting in July,” Reuters reports.
“German Finance Minister Wolfgang Schaeuble said the trio would examine ways to close loopholes that made it too easy for companies to decide where they paid taxes, particularly on ‘mobile income’ such as interest, dividends and royalties,” Reuters reports. “The tax reform plan comes at a time when governments are facing public outrage over how some multinational companies handle their international tax affairs.”
Reuters reports, “In Britain, the issue of multinational tax avoidance has risen to the top of the political agenda, after revelations that companies such as Starbucks, Apple, Google and Amazon were using complex inter-company transactions to cut their tax bills.”
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