Tax avoidance and Syria dominate G8
Eric Schmidt appealing to the G8 to simplify the international tax system
European Commission president Jose Manuel Barroso speaks at a news conference before the start of a G8 summit in Enniskillen, Northern Ireland.
For his part, European Commission president José Manuel Barroso yesterday supported Britain’s agenda of trade, transparency and tax, saying: “In Europe we are leaving no stone unturned in finding out how taxes are paid. I hope that bank secrecy and tax havens will soon belong to the past.”
On the issue of aggressive tax avoidance, European Council president Herman van Rompuy said such actions “undermine the social contract in our democratic societies”, which “in times of financial consolidation become more unacceptable than ever”.
Meanwhile, the Archbishop of York, the Most Rev John Sentamu, called on the G8 to close tax loopholes because “too many unscrupulous businesses” are robbing people in developing countries of education, health, food and employment.
He said leaders must find a way of streamlining international tax without increasing corporation tax, as that would lead to less innovation, less growth and less job creation.