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Will G20 Make a Difference?

4 septembre 2013

As Prime Minister Harper heads to Russia, we have to ask: Will tomorrow’s G20 Summit make any progress reforming the
way multinational corporations are taxed? 

 Earlier this summer G20 Finance Ministers issued a statement
that included this analysis: “Ensuring that all taxpayers pay their fair share of taxes is a high priority in
the context of fiscal sustainability, promoting growth, and the needs of
developing countries to build capacity for financing development. Tax
avoidance, harmful practices and aggressive tax planning have to be tackled….“Profits
should be taxed where functions driving the profits are performed and where
value is created. In order to minimize BEPS (base erosion and profit
shifting),  we call on member countries
to examine how our own domestic laws contribute to BEPS and to ensure that
international and our own tax rules do not allow or encourage multinational
enterprises to reduce overall taxes paid by artificially shifting profits to
low-tax jurisdiction.”

 Let’s watch and see. 
In the meantime if you want more information, take a look at this
briefing paper prepared by our partners at Christian Aid.