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G8 tax avoidance battle begins

Monday, June 17, 2013 - 01:54

June 17 - British Prime Minister David Cameron, who is hosting the annual G8 Summit in Northern Ireland, has vowed to put aggressive tax avoidance at the heart of the meeting. Ciara Sutton reports.

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The real-life G8 leaders arrived at the Lough Erne golf resort in Northern Ireland by air. But they did have something in common with these anti-hunger campaigners. Both are keen to tackle corporate tax avoidance. (SOUNDBITE) (English) "ENOUGH FOOD FOR EVERYONE IF" SPOKESPERSON, BRENDAN COX, SAYING: "Developing countries lose trillions of dollars every year to tax dodgers, to tax havens and rich countries. The G8 can make a massive difference to that and if they do agree that clampdown, it will mean that developing countries can feed their own population. At the moment one in eight people go to bed hungry every night. Three million children die as a result of malnutrition every year. Summit host David Cameron has been leading the fight. The UK Prime Minister wants greater transparency to help nations crack down on corporate tax dodgers. (SOUNDBITE) (English) BRITISH PRIME MINISTER DAVID CAMERON, SAYING: "We have seized on three particular areas that can make a real difference to hard-working families around the world. Making sure we have more trade deals so we keep prices down, making sure we have greater transparency so we can help developing countries get the tax and the revenue that they need and this issue of taxation, making sure we crack down on tax evasion and aggressive tax avoidance, so right across the world countries get the tax revenue they need to keep taxes down for hard-working people." There's been widespread anger that companies like Apple and Google have found loopholes to minimise their tax bills. And last week representatives from overseas tax havens linked to Britain agreed to sign up to an international transparency protocol. Campaigners want G8 leaders to follow suit But that's not expected to happen in Northern Ireland The leaders of Russia, Japan, Canada and the US, along with Germany, France and Italy represent half of the global economy. They're unlikely to want to force their companies to publish profits and tax payments on a country-by-country basis.

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G8 tax avoidance battle begins

Monday, June 17, 2013 - 01:54