UK gets behind measure to curb international tax avoidance
Accountancy Age, 16 Jun 2009
The UK has supported a push for global tax administrations to adopt country-by-country reporting in an effort to stem tax avoidance.
The measure would result in multinationals companies needing to reveal how much tax is paid in each subsidiary operated in, according to guardian.co.uk
Stephen Timms, the financial secretary to the treasury, is scheduled to promote the move to fellow G20 leaders at a meeting in Berlin next week.
'It has been a closed door until now,' he said.
David McNair, senior economic adviser at Christian Aid, said country-by-country reporting is a vehicle through which developing countries can better tax evasion.
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