G8 leaders tried to plug the holes in their public finances with a sweeping commitment to shake up international corporate tax rules, including a crackdown on tax evasion and the shadowy owners of shell companies.
The leaders of eight of the world’s biggest economies signed a 10-point Lough Erne Declaration that calls for tax authorities around the world to automatically share information.
It also urges countries to change the rules that let multinational companies shift profits across borders to avoid taxes and require them to report “what tax they pay where”.
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