• Germany edition
Business & Money
Photo: DPA

Germany and UK: close corporate tax loopholes

Published: 6 Nov 12 08:57 CET | Print version
Online: http://www.thelocal.de/money/20121106-45995.html

Germany and Britain pressed the Group of 20 leading economies on Monday to tighten international standards for corporate tax regimes in order to close loopholes for big companies.

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

What do you think? Leave your comment below.


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.
ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Business & Money headlines
Photo: DPA

Car boss asks Merkel to rethink CO2 pledge

The president of the German Automobile Association (VDA) has written to Angela Merkel, asking her to retract her pledge to significantly reduce CO2 car emissions by 2025, it was reported on Tuesday. READ () »

Photo: DPA

SAP to hire hundreds of autistic IT experts

German tech company SAP said on Tuesday it wants to hire hundreds of people with autism to work as software testers and programmers. The search has, it said, begun for people “who think differently from others.” READ () »

Photo: DPA

Economists warn against German euro exit

While a third of Germans would rather pay with the old Deutsche mark than the euro, economists warn that a German exit from the currency union would result in a disaster. READ () »

Photo: DPA

Germany cool to France's EU economy plan

Germany said Friday that French President Francois Hollande's proposal for a eurozone economic government was "interesting" but reacted coolly to his call for strengthened European budgetary powers. READ () »

Photo: DPA

Au pairs rules relax for non-German families

Foreign families will soon be able to officially engage au pairs from outside the European Union, as long as they speak German at home, as the government prepares to change the law. READ () »

Wolfgang Schäuble and his French counterpart Pierre Moscovici. Photo: DPA

Germany refuses to slam French economic policy

Germany will not publicly criticize France over economic policy, German Finance Minister Wolfgang Schäuble insisted on Thursday, amid differences between Berlin and Paris over growth versus austerity in battling the eurozone debt crisis. READ () »

Photo: DPA

Capri-Sun drink wins false advertising award

A German food industry watchdog singled out drinks-maker Capri-Sun for its annual advertising "award" on Thursday, for what the group described as "shameless" marketing of sugary drinks to children. READ () »

Photo: DPA

Anaemic economy feels winter chill

The German economy, Europe's biggest, clocked up anaemic growth at the start of 2013 as the freezing winter weather put the brakes on activity, official data showed on Wednesday. READ () »

Photo: DPA

ThyssenKrupp bins 3,000 admin jobs

German heavy industry giant ThyssenKrupp said on Wednesday it plans to axe 3,000 administrative jobs worldwide as disastrous investments in steel operations overseas tore holes in its balance sheet in the second quarter. READ () »

Photo: DPA

Pay deal for metal workers averts strike

Germany's powerful union IG Metall agreed a pay deal with the metal industry's employers association early Wednesday, averting the threat of a major strike. READ () »

More Business & Money

See all ads | Join the Marketplace

Jobs in Germany, in English

858 jobs available
568 new jobs this week
0 new jobs today

ALL JOBS »

Latest Business & Money news from Sweden
News from the Goethe-Institut
News from DeutschlandOnline

Toytown Germany
Germany's English-speaking crowd
Trade CFDs with InterTrader.com
Start trading shares, equities, forex, etc. No commission on equities; Low min. margins. Apply for a CFDs account now!
Little house in Spain
'Charming, old, beamed cottage for holiday let in Jesus Pobre, Alicante, Spain
www.littlehouseinspain.com/
Albatross Insurance
Professional and qualified consultancy on all insurance and finance matters in Germany, Telephone: +49 2163 571 1740, Email: bg@albatross-assurance.com
www.albatross-assurance.com
Hotel reservations in Berlin
Visiting Berlin anytime soon? Book your hotel in Berlin here.
Rental apartments in Berlin
For home-from-home holiday accommodation, search for a Berlin apartment to rent.