The World leaders at the 2013 G8 summit in Northern Ireland have reached an agreement on tackling tax evasion at a global level
The Lough Erne Declaration from the G8 Summit 2013 states that governments have a special responsibility to make proper rules and promote good governance. In addition, fair taxes, increased transparency and open trade are identified as strong foundations of good government worldwide.
According to the declaration governments have a special responsibility to make proper rules and promote good governance. Fair taxes, increased transparency and open trade are strong foundations of good government.
With regard to fighting tax evasion the Declaration states that:
Tax authorities across the world should automatically share information to fight the scourge of tax evasion.
Countries should change rules that let companies shift their profits across borders to avoid taxes, and multinationals should report to tax authorities what tax they pay where.
Companies should know who really owns them and tax collectors and law enforcers should be able to obtain this information easily.
Developing countries should have the information and capacity to collect the taxes owed them and other countries have a duty to help them.
Extractive companies should report payments to all governments and governments should publish income from such companies.
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