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G8 2013 Summit: UK PM calls for fairer taxes & transparency

G8 2013 Summit: UK PM calls for fairer taxes & transparency

As host leader holding the G8 Presidency, UK PM David Cameron says summit will make "a real difference"

UK Prime Minister David Cameron, who will be chairing the G8 2013 summit as part of the UK’s presidency of the industrialised group of nations, said fairer taxes, greater transparency and more trade would be the key themes of the meeting.

Speaking at the pre-summit 'Open for Growth' event on Saturday, the PM said, "The three Ts' is a snappy title, but, really, why link these three together? Because they all have something in common: in each case developing countries are badly missing out. When taxes are not collected, the poor suffer."

"First, at the G8 I’m going to push for international agreements to fight the scourge of tax evasion and aggressive tax avoidance. That means automatic exchange of information between our tax authorities – so those who want to evade taxes have nowhere to hide."

"It means getting companies to report to tax authorities where they earn their profits and where they pay their tax. It also means transparency about who owns which companies and who benefits from it – so called beneficial ownership," he said

Cameron added that real transparency in the payments companies make and the revenues that governments receive was essential. "We also need trade as the engine of growth. That means completing the trade deal between the EU and Canada and launching one between the EU and the US," he added.

On his arrival in Belfast on Sunday, the PM said steps to improve sharing of information by countries and to reveal the true owners of companies "will lead to a fairer tax system".

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