G-20 focuses on taxation of multinational corporations

Group of 20 leaders are close to signing an agreement to back rules aimed at preventing multinational corporations from avoiding taxes by setting up affiliates in low-tax jurisdictions. The proposal calls on countries to increase coordination of tax treaties to close loopholes that let companies escape taxation by registering in places such as Delaware and the Cayman Islands. G-20 leaders are also discussing possible threats to the global economy, including the Syrian conflict and withdrawal of stimulus by major central banks.

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