UK and Germany take on corporate tax dodgers

Nov 6, 2012

George Osborne and his German counterpart call on G20 to take action

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BRITAIN and Germany have recruited the G20 nations to take action on tax dodging by big businesses, The Daily Telegraph reports. Chancellor George Osborne and his German counterpart Wolfgang Schaeuble said in a joint statement that "concerted international co-operation" is needed at the G20 meeting in Mexico City "to strengthen international standards for corporate tax regimes". The pair are particularly concerned about the ability of multinational businesses to shift the taxation of their profits away from the jurisdictions where they are being generated, thus increasing their competitiveness compared to their domestic rivals. Meanwhile, The Times reports, Tory MP Charlie Elphicke yesterday used parliamentary privilege to reveal that Google, Amazon, Starbucks and Pfizer pay between 0 and 2.5 per cent tax in the UK.

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