Saturday July 20, 2013

G20 Backs Fundamental Multinational Corporate Tax Reform

If recommendations made by the G20 are acted upon, the large multinational corporations such as Apple and Google would lose the tax loopholes that allow the companies to pay little to no corporate taxes in certain countries considered to be tax havens. The loopholes cost the home base countries Billions of dollars in yearly revenue.

Large budget deficits and public anger at inter-company structures designed to channel profits into tax havens has prodded governments to act.