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High flyers: Intermediary profile St James Global

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Simon Danaher

Cameron makes tax avoidance top priority for G8 this year

From Tax & Regulation Jan 2 2013 BY: Simon Danaher , Online Editor , International Adviser

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UK Prime Minister David Cameron has called on the leaders of the G8 group of the world’s wealthiest nations to take “bold steps” this year to drive growth in a time of “grave economic uncertainty”.

Cameron made the comments in an open letter to the other seven leaders of the G8 as he takes over the year long presidency of the G8 for 2013.

During its year of leadership, the UK said it will push for action in three key areas: trade deals, including a potential European Union – US trade agreement, measures to tackle tax evasion and working with developing countries to fight corruption.

Looking forward to June, when the UK will host the main G8 Summit for the first time since 2005, at the Lough Erne hotel and golf resort in Co Fermanagh, Northern Ireland, Cameron said he wanted to “galvanise collective international action” on tax avoidance.

He wrote: “We can lead the way in sharing information to tackle abuses of the system, including in developing countries, so that governments can collect taxes due to them.

“We can work together to sign more countries up to international standards. And we can examine the case for strengthening those standards themselves.”

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