G20 looks to step up fight on tax evasion

G20 looks to step up fight on tax evasion

 

MOSCOW (AFP) - Finance ministers and central bankers from G20 countries meet in Moscow for a two-day meeting on Friday seeking to intensify the battle against tax evasion and prevent a new global slowdown.

 

The meeting, preparing for a G20 summit in September that will be the culmination of the Russian presidency of the Group of 20 top advanced and emerging nations, will focus on increasing cooperation in the fight against tax evasion and on regulating finance.

 

One government source, who declined to be named, said the priority was "to make headway towards greater transparency, towards stronger action against countries with uncooperative legal systems."

 

A key objective is to tackle techniques of tax optimisation, the complex accounting arrangements used by multinational businesses to minimise their tax bills.

 

(The Straits Times, 19 July 2013)