Multinationals to be forced to reveal tax bills
June 15th, 2009
Britain is backing moves for country-by-country reporting to stem tax avoidance
The Guardian
The UK is backing calls to force multinational companies to reveal precisely how much tax they pay in each jurisdiction they operate in. The move is being hailed as a significant breakthrough towards ending tax secrecy.
Stephen Timms, the financial secretary to the Treasury, will tell G20 ministers gathering for a meeting in Berlin next week that country-by-country reporting should be introduced. At present, companies do not need to reveal what tax or profits they make in many countries.
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