G8 summit: Tax takes centre stage | AccountingWEB

G8 summit: Tax takes centre stage

Tax avoidance, evasion and international transparency were the central topics at this week's G8 summit in Fermanagh, Northern Ireland - but it was a case of talk and not much action as the Prime Minister failed to persuade colleagues to make any binding decisions . 

Cameron outlined plans for a global strategy to combat tax evasion in a communique, including governments sharing tax information between countries. 

Also included in the Lough Erne Declaration were plans for a UK register of beneficial ownership, which could be available to the public. 

The register would require owners of offshore shell companies, including subsidiaries, to identify their effective owners by registering them with Companies House. 

In a press conference, the Prime Minister said that tackling tax evasion and "abusive" avoidance is top of the UK's agenda. 


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Exciting Times

Henry_AIMS | | Permalink

We've been looking forward to this moment for a while. A chance for the government to deliver a strategy on how they intend to deal with the current evasion of tax by the big corporates. Watch this space . . .  





pembo's picture


pembo | | Permalink

when you have an absolute humanitarian catastrophy going on in Syria whether guys like Eric Schmidt et al feel any sense of shame that this topic has to exercise the minds of our leaders so much....but then again of course they all pay their precise legal dues don't they so thats all right....don't hold your breath Henry...

Old Greying Accountant's picture

All I heard ...

Old Greying Acc... | | Permalink

... was Cameron wittering on about international co-operation and information exchange to ensure companies don't EVADE tax - no quite the same thing as Google, Starbucks et al!