G8 leaders seek deal to curb tax evasion
<p><span word="Download">Download</span></p><p><span word="World">World</span> <span word="leaders">leaders</span> <span word="at">at</span> <span word="the">the</span> <span word="G">G</span>8 <span word="summit">summit</span> <span word="declared">declared</span> <span word="on">on</span> <span word="Tuesday">Tuesday</span> <span word="that">that</span> <span word="governments">governments</span> <span word="must">must</span> <span word="work">work</span> <span word="together">together</span> <span word="to">to</span> <span word="close">close</span> <span word="loopholes">loopholes</span> <span word="that">that</span> <span word="allow">allow</span> <span word="multinational">multinational</span> <span word="corporate">corporate</span> <span word="giants">giants</span> <span word="to">to</span> <span word="avoid">avoid</span> <span word="paying">paying</span> <span word="taxes">taxes</span> <span word="in">in</span> <span word="their">their</span> <span word="home">home</span> <span word="countries">countries</span>.</p><p><span word="British">British</span> <span word="Prime">Prime</span> <span word="Minister">Minister</span> <span word="David">David</span> <span word="Cameron">Cameron</span>, <span word="host">host</span> <span word="of">of</span> <span word="the">the</span> <span word="two">two</span>-<span word="day">day</span> <span word="G">G</span>8 <span word="summit">summit</span> <span word="at">at</span> <span word="a">a</span> <span word="remote">remote</span> <span word="lakeside">lakeside</span> <span word="golf">golf</span> <span word="resort">resort</span> <span word="in">in</span> <span word="Northern">Northern</span> <span word="Ireland">Ireland</span>, <span word="promised">promised</span> "<span word="significant">significant</span> <span word="developments">developments</span> <span word="on">on</span> <span word="tax">tax</span>" <span word="in">in</span> <span word="a">a</span> <span word="tweet">tweet</span> <span word="before">before</span> <span word="heading">heading</span> <span word="into">into</span> <span word="a">a</span> <span word="morning">morning</span> <span word="discussion">discussion</span> <span word="on">on</span> <span word="the">the</span> <span word="subject">subject</span> <span word="with">with</span> <span word="the">the</span> <span word="leaders">leaders</span> <span word="of">of</span> <span word="the">the</span> <span word="United">United</span> <span word="States">States</span>, <span word="Germany">Germany</span>, <span word="Russia">Russia</span>, <span word="France">France</span>, <span word="Italy">Italy</span>, <span word="Canada">Canada</span> <span word="and">and</span> <span word="Japan">Japan</span>.</p><p><span word="British">British</span> <span word="lawmakers">lawmakers</span> <span word="have">have</span> <span word="sharply">sharply</span> <span word="criticized">criticized</span> <span word="Google">Google</span>, <span word="Starbucks">Starbucks</span> <span word="and">and</span> <span word="other">other</span> <span word="US">US</span> <span word="multinationals">multinationals</span> <span word="operating">operating</span> <span word="in">in</span> <span word="Britain">Britain</span> <span word="for">for</span> <span word="exploiting">exploiting</span> <span word="accounting">accounting</span> <span word="rules">rules</span> <span word="by">by</span> <span word="registering">registering</span> <span word="their">their</span> <span word="profits">profits</span> <span word="in">in</span> <span word="neighboring">neighboring</span> <span word="countries">countries</span> <span word="such">such</span> <span word="as">as</span> <span word="Ireland">Ireland</span>, <span word="which">which</span> <span word="charges">charges</span> <span word="half">half</span> <span word="the">the</span> <span word="rate">rate</span> <span word="of">of</span> <span word="corporate">corporate</span> <span word="tax">tax</span>, <span word="or">or</span> <span word="paying">paying</span> <span word="no">no</span> <span word="tax">tax</span> <span word="at">at</span> <span word="all">all</span> <span word="by">by</span> <span word="employing">employing</span> <span word="offshore">offshore</span> <span word="shell">shell</span> <span word="companies">companies</span>.</p><p><span word="But">But</span> <span word="Britain">Britain</span> <span word="itself">itself</span> <span word="stands">stands</span> <span word="accused">accused</span> <span word="of">of</span> <span word="being">being</span> <span word="one">one</span> <span word="of">of</span> <span word="the">the</span> <span word="world">world</span>'<span word="s">s</span> <span word="premier">premier</span> <span word="links">links</span> <span word="in">in</span> <span word="the">the</span> <span word="tax">tax</span>-<span word="avoidance">avoidance</span> <span word="chain">chain</span>. <span word="Several">Several</span> <span word="of">of</span> <span word="the">the</span> <span word="UK">UK</span>'<span word="s">s</span> <span word="own">own</span> <span word="island">island</span> <span word="territories">territories</span> - <span word="including">including</span> <span word="Jersey">Jersey</span>, <span word="Guernsey">Guernsey</span> <span word="and">and</span> <span word="the">the</span> <span word="British">British</span> <span word="Virgin">Virgin</span> <span word="Islands">Islands</span> -<span word="serve">serve</span> <span word="as">as</span> <span word="shelters">shelters</span> <span word="and">and</span> <span word="funnel">funnel</span> <span word="billions">billions</span> <span word="each">each</span> <span word="week">week</span> <span word="through">through</span> <span word="the">the</span> <span word="City">City</span> <span word="of">of</span> <span word="London">London</span>, <span word="the">the</span> <span word="world">world</span>'<span word="s">s</span> <span word="second">second</span>-<span word="largest">largest</span> <span word="financial">financial</span> <span word="market">market</span>.</p><p>"<span word="Of">Of</span> <span word="course">course</span> <span word="Britain">Britain</span>'<span word="s">s</span> <span word="got">got</span> <span word="to">to</span> <span word="put">put</span> <span word="its">its</span> <span word="own">own</span> <span word="house">house</span> <span word="in">in</span> <span word="order">order</span>," <span word="said">said</span> <span word="Britain">Britain</span>'<span word="s">s</span> <span word="treasury">treasury</span> <span word="chief">chief</span>, <span word="Chancellor">Chancellor</span> <span word="of">of</span> <span word="the">the</span> <span word="Exchequer">Exchequer</span> <span word="George">George</span> <span word="Osborne">Osborne</span>, <span word="who">who</span> <span word="was">was</span> <span word="invited">invited</span> <span word="to">to</span> <span word="address">address</span> <span word="the">the</span> <span word="G">G</span>8 <span word="meeting">meeting</span> <span word="on">on</span> <span word="corporate">corporate</span> <span word="tax">tax</span> <span word="reform">reform</span>. <span word="Before">Before</span> <span word="the">the</span> <span word="summit">summit</span>, <span word="Britain">Britain</span> <span word="announced">announced</span> <span word="a">a</span> <span word="provisional">provisional</span> <span word="agreement">agreement</span> <span word="with">with</span> <span word="the">the</span> <span word="finance">finance</span> <span word="chiefs">chiefs</span> <span word="of">of</span> <span word="nine">nine</span> <span word="of">of</span> <span word="its">its</span> <span word="offshore">offshore</span> <span word="dependencies">dependencies</span> <span word="to">to</span> <span word="improve">improve</span> <span word="their">their</span> <span word="sharing">sharing</span> <span word="of">of</span> <span word="information">information</span> <span word="on">on</span> <span word="individuals">individuals</span> <span word="and">and</span> <span word="companies">companies</span> <span word="banking">banking</span> <span word="cash">cash</span> <span word="there">there</span>.</p>
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