G-20 Fin Mins meet in Moscow

Finance Ministers from G-20 nations, meeting in Moscow, are to discuss fresh moves aimed at forming international rules on corporate taxation that allow companies to divert profits to parent bodies in lower tax jurisdictions to minimise their tax liability. Britain, Germany and France are leading efforts to clamp down on tax avoidance by multi-national companies. The three will seek backing from other leaders at the G-20 summit. A survey carried out by the Organisation of Economic Co-operation and Development, OECD found that multinational companies could exploit gaps between the tax rules in different countries they operated in.