EU Wants 'Fair Tax Share' from Big Business
Britain, France and Germany have launched a new drive to force big business to pay its fair share of tax and stop efforts of top companies to keep payments to a minimum.
The plan, announced Saturday by the finance ministers of the three countries at a G20 meeting in Moscow, follows a study from the Organization of Economic Cooperation and Development showing that many big firms country-hop to pay less tax.
The OECD study highlighted a growing trend of multinational companies to shift profits to countries where tax rates are lowest.
British Finance Minister George Osborne told the gathering that current tax laws had been developed nearly a hundred years ago and should be modified to reflect how international companies do business.
Source: Voice of America
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