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Germany and UK: close corporate tax loopholes
Photo: DPA

Germany and UK: close corporate tax loopholes

Published: 06 Nov 2012 08:57 GMT+01:00
Updated: 06 Nov 2012 08:57 GMT+01:00

The finance ministers of both nations said tax standards had struggled to keep up with changes in global business practices, such as e-commerce, which enable some large firms to shift taxes on profits to other jurisdictions.

"Britain and Germany want competitive corporate tax systems that attract global companies to our countries, but also want global companies to pay those taxes," said Germany's Wolfgang Schäuble and Britain's George Osborne said in a joint statement.

"That is best achieved through international action in the G20 and other relevant international fora to ensure strong standards," they said at a meeting of G20 finance ministers and central bankers in Mexico City.

The two-day meeting, which ended on Monday, was focused on threats to the global economy including the debt crisis in Europe and a looming fiscal crunch in the United States.

AFP/hc

The Local (news@thelocal.de)

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Your comments about this article

10:34 November 6, 2012 by IchBinKönig
Funny thing about all this tax talk is, that the Left just LOVES Taxing. They don't care if the money goes to Government corruption and waste, a black hole as far as they are concerned. they just love Taxes for loving Taxes sake. They hate people keeping their money.
11:18 November 6, 2012 by basske
^---- ....? lol
16:02 November 6, 2012 by catjones
IchBinKönig...maybe you could cite one or two governments that don't tax?
18:35 November 6, 2012 by Rischart99
As both of these parties are on the right, the comment makes no sense. Perhaps IchBinKonig enjoys paying extra tax to make up for that which is avoided by large corporations.
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