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  1. Wealth
September 5, 2013

BBC: G20 to take action against tax-avoiding multinationals

By Spear's

The group formally backed plans to tackle international tax avoidance and evasion at its meeting in July

Leaders of the G20 nations are gathering for a meeting at which they are expected to sign an agreement to fight tax avoidance by multinationals.

The group formally backed plans to tackle international tax avoidance and evasion at its meeting in July.

One of the main topics to emerge this year has been multinational companies’ use of legal, highly complex tax minimisation systems.

Read more: Why you should avoid tax avoidance

Oxfam warned this week that such behaviour was not only harmful to the countries in which companies were based, but paid little or no tax, but was also damaging to developing nations, with African countries losing 2% of national income to tax-dodging by businesses.

Read the full story here

Read more on tax avoidance from Spear’s

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