Russia: G20 agrees on plan to tax multinationals

Russia's finance minister says that G-20 leaders have agreed on a plan to take on multinational companies who tuck away their profits in offshore jurisdictions.

Speaking to reporters after the 's first Group of 20 session, Anton Siluanov said that leaders of the world's 20 largest economies are indignant over the policies of cross-border giants like Google and Amazon, who "make money in one country" but pay lower taxes elsewhere.

The G-20 leaders agreed on a plan that would prevent these companies from using loopholes and tax havens, Siluanov said. He did not elaborate.

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on red akl_a4 at 19 Sep 2014 19:41:09 Processing Time: 627ms