LONDON, June 14 (Reuters) – The G8 group of leading
economies will shy away from adopting a measure aimed at curbing
tax avoidance by highlighting when companies channel profits
into tax havens, and will include a watered down alternative,
according to a draft statement.
British Prime Minister David Cameron, who is hosting the
annual G8 Summit in Northern Ireland next week, has said he will
put tax evasion and aggressive avoidance at the heart of the
LONDON (Reuters) – Leaders of the world’s richest nations are likely to say next week that they are not content with progress so far in fixing their economies after the financial crisis.
A draft copy of the communique being prepared for leaders at a Group of Eight summit, which was obtained by Reuters, said actions by policymakers in the United States, the euro zone and Japan had reduced risks to the global economy.
LONDON (Reuters) – Western governments have promised to tackle corporate tax avoidance following revelations of the widespread use of contrived structures to minimise payments.
Leaders at a G8 Summit of leading economies next week in Northern Ireland will discuss the issue and the Organisation for Economic Co-operation and Development will table a list of measures to put to the G20 group in Moscow in July.
LONDON, June 13 (Reuters) – Bermuda has agreed to back an
international financial transparency treaty that is aimed at
stamping out tax evasion, the British government said on
Thursday, boosting Prime Minister David Cameron ahead of the G8
summit meeting next week.
“Bermuda is strongly committed to joining the Multilateral
Convention on tax-information sharing,” Bermudan Premier Craig
Cannonier was quoted as saying in a statement circulated by the
British Foreign Office.
LONDON (Reuters) – British MPs described Google’s tax affairs as “contrived” in a report released on Thursday and called on the UK tax authority to vigorously investigate whether the company was acting within the law.
The parliamentary investigation was prompted by a Reuters report, which showed the company employed staff in sales roles in London, even though it had told MPs in November its British staff were not selling to UK clients – an activity that could boost its tax bill substantially.
LONDON, June 13 (Reuters) – British lawmakers described
Google’s tax affairs as “contrived” in a report released on
Thursday and called on the UK tax authority to vigorously
investigate whether the company was acting within the law.
The parliamentary investigation was prompted by a Reuters
report, which showed the company employed staff in sales roles
in London, even though it had told lawmakers in November its
British staff were not selling to UK clients – an activity that
could boost its tax bill substantially.
LONDON, June 12 (Reuters) – Bermuda’s premier is not ready
to sign an international transparency convention that he said
Britain’s prime minister had planned to achieve ahead of the G8
summit in Northern Ireland next week, potentially scuppering a
Bermuda’s Premier Craig Cannonier told Reuters on Wednesday
he was ready to accept wider sharing of information with
international tax authorities but was not ready to commit to
signing a convention already agreed by more than 50 countries.
LONDON (Reuters) – Britain’s overseas territories will not sign up to an international convention aimed at tackling tax evasion ahead of the G8 summit in Northern Ireland next week, the premier of Bermuda said on Wednesday.
British Prime Minister David Cameron has invited the mainly Caribbean territories to London ahead of hosting the annual gathering of the G8 group of leading economies, at which he has put tax avoidance and evasion high on the agenda.
LONDON, June 7 (Reuters) – Vodafone Group Plc said
it paid no corporation tax in Britain for the year to March
2013, prompting fresh criticism from campaigners who have made
the UK mobile telephone group a target in the debate on
corporate tax payments.
Revelations of profit shifting by big companies have
provoked anger among austerity-weary citizens across Europe and
political leaders have pledged to act.
LONDON (Reuters) – As western politicians consider moves to clamp down on corporate tax avoidance, some conservative economic thinkers say the damage done by avoidance is overstated and any remedies are more likely to do economic harm than good.
Revelations that companies including Apple Inc, Google Inc and Amazon.com Inc have shielded billions of dollars in profits from taxes by using tax havens have ignited a public debate on the issue.