Voltaire Network

The G20 wants to tax the multinationals


The ministers for Employment and the Economy, as well as the governors of the central banks for the member states of the G20, met in Saint-Petersburg between the 18th and the 20th July 2013.

The aim of this meeting was to prepare the summit meeting of the heads of state and governments which will be taking place on the 5th and 6th of September.

The participants examined the propositions of the OECD to tax multinational and other companies which, so far, partially avoid their influence.

Notably, the Organisation for Economic Co-operation and Development in Europe suggests:
- the international definition of the competence of member states to determine numerically the taxation of contributing companies so that they will be aware of which sectors of their activity are taxable;
- forbidding of preferential treaties which create zones of double non-taxation;
- developing laws which forbid financial sleight of hand aimed at allowing the transfer of profits to companies established in states with reduced taxation;
- the mandatory declaration of benificiaries of each off-shore company;
- creating a global mechanism which will make it possible to check that each company pays its taxes in one state or another.

- “G20 Meeting of Finance Ministers and Central Bank Governors”, Voltaire Network, 20 July 2013.
- “G20 Labour and Employment Ministers’ Declaration]”, Voltaire Network, 19 July 2013.
- “The G20 Labour and Employment and Finance Ministers’ Communiqué”, Voltaire Network, 19 July 2013.

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