Country-by-country reporting could end transfer pricing misuse
June 17, 2009
For companies that use transfer pricing to avoid paying tax, news that country-by-country reporting is on the agenda of a meeting of G20 finance ministers in Berlin next week is bad news.
Development charities have welcomed a report that, at the instigation of the UK government, the ministers will consider whether moving to a system where multinational companies must report how much of the group’s profits are declared in each country where it operates and how much tax is paid there, calling it a logical step for the global economy.
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