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G8 calls for changes to multinational tax rules

The Taoiseach has had to defend Ireland's tax policy at the G8 summit in Fermanagh. While the iss...
Newstalk
Newstalk

07.09 18 Jun 2013


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G8 calls for changes to multin...

G8 calls for changes to multinational tax rules

Newstalk
Newstalk

07.09 18 Jun 2013


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The Taoiseach has had to defend Ireland's tax policy at the G8 summit in Fermanagh.

While the issue of tax was a central matter at the gathering the government had denied that the Irish tax regime would be specifically addressed.

Today is the conclusion of the meeting and the leaders have established a 10-point plan that would see countries have agree to 'change rules allowing shifting of profits across borders in order to avoid tax'.

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The second rule on the document says "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".

The leaders are also calling on governments to publish information on laws, budgets and spending "in a way that is
easy to read and re-use, so that citizens can hold them to account

The Taoiseach says he welcomes the plan and will agree to principles behind it.

The G8 leaders are understood to be close to agreeing a statement on the conflict in Syria, despite deep divisions between Russian President Vladimir Putin and the rest of the world powers.

The leaders of the Group of Eight most industrialised nations are still working out the exact wording of a communique that they will issue at the end of the two-day summit in Lough Erne.

The statement is likely to focus on less contentious issues like the need to push for a peace conference in Geneva and on humanitarian aid.

Sources close to the talks said there were "very frank" discussions on the issue at dinner last night, especially on the issue of chemical weapons.

Russian President Putin has become increasingly isolated over his continued support of Bashar Assad's regime in Syria. And with the other seven members of the G8 keen to push through a communique of sorts on the matter by the end of the two-day summit, it is thought a compromise will be reached.

Officials from one western nation told AFP news agency that the statement was likely to focus on less contentious issues such as the need to push for a peace conference in Geneva and on humanitarian aid.

Watch highlights from the gathering below:


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