Germany

“Big business” will be taxed

The finance ministers of the UK, France and Germany have decided to close tax loopholes used by large companies

Britain, France and Germany have taken new steps to force businesses to pay more taxes and make it harder for businesses to minimize their tax base.

The plan was announced following talks between the finance ministers of these three states, who gathered in Moscow as part of a meeting of the G20 finance ministers and central bank governors..

This decision is based on a just-published report by the Organization for Economic Co-operation and Development, which found that many large companies pay less taxes than smaller firms.. The report also indicates that more and more multinational companies show profits in countries with the lowest tax rates..

UK Treasury Secretary George Osborne noted that the current tax system was created almost a century ago and should be modified to reflect modern realities.

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