The UK supports Country by Country reporting standards and publishes study minimising transfer mispricing impacts on development

June 26th, 2009


Finance ministers meet (sic) in Berlin on Tuesday 23rd June to review the international crackdown on tax havens. The meeting was organised by the French and German finance ministries and was also attended by Hans-Rudolf Merz, Swiss finance minister. Interestingly, this meeting has been the occasion for the UK to announce its support for Country by Country reporting in order to fight aggressive tax avoidance, informs recent article in the Financial Times. The article explains: “The British Treasury, which is keen to expand the campaign against tax havens to embrace aggressive avoidance, as well as evasion, plans to voice support for a new move towards “country-by-country” reporting. It believes this additional reporting requirement for multinationals would bring more transparency into their negotiations with developing countries on transfer pricing, which determines the allocation of taxable profits between parts of a multinational.”

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