Crackdown on tax evasion in attempt to help poorer countries

January 27th, 2010

Developing nations lose up to £180bn in tax a year

The Guardian

Large companies should reveal how much of their profits they pay in tax to developing nations to show they comply with local corporation tax regimes, Stephen Timms, the Treasury minister, will say tomorrow as part of a three-pronged effort to boost tax revenues in poor countries.

Developing nations must also be given access to secret tax agreements between western governments and other poor nations together with expensive technical support to help them rein in tax-dodging companies, he will tell the first meeting of a high-level tax committee at the Organisation for Economic Co-operation and Development, the Paris-based club for the world’s 16 richest nations.

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