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G20 to discuss offshore tax avoidance separately

June 10, 2013, 14:26 UTC+3
The new initiative is aimed at preparing a joint policy, which would prevent profit shifting and offshore tax avoidance by legal means
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MOSCOW, June 10 (Itar-Tass) - The G-20 will separately discuss offshore tax avoidance, Russian Sherpa Kseniya Yudayeva said.

The G-20 would discuss two key initiatives. The first one is an initiative on automatic exchange of information. “The OECD [Organisation for Economic Cooperation and Development] prepares a corresponding standard,” Yudayeva told a press conference on Monday.

“The second initiative is the tax base erosion and profit shifting. The initiative is aimed at working out a joint policy, which would prevent profit shifting and offshore tax avoidance by legal means,” she said.

Yudayeva recalled that many countries faced scandals related to tax evasion. “Many world leaders insist the G-20 to discuss this issue separately,” the Russian Sherpa said.

 

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