Tax avoidance tops G20 agenda

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David Cameron, George Osborne and Angela Merkel have all made speeches condemning “aggressive” international corporate tax avoidance in the past week in what appears to be an effort to co-ordinate international action.

Speaking in Mumbai today, the Prime Minister said the government wanted to keep business taxes low but expected businesses to pay their “fair share” in return.

Cameron likened “aggressive” forms of tax avoidance by multinationals to illegal tax evasion.

He said: “I think there is a legitimate debate to say very aggressive forms of avoidance are not appropriate. And particularly, in a country which has set a very low tax rate, it is fair to ask people to pay it”

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Tax Avoidance

It is fantastic if all countries cooperate in elimination of tax havens. It is also not permissible to use loopholes for eroding the fiscal base of the source countries even under treaty mechanism. The action to curb harmful tax practices is to be initiated by all countries.

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eliminating cashing on loopholes needs global efforts since most countries are loosing a lot of tax revenues because of such malpractices especially African countries

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