Tax structures used by Amazon to route billions of pounds from sales to British customers through Luxembourg, paying negligible UK tax, are among a series of international loopholes earmarked for closure in a programme of reforms backed by G20 nations.
Just Amazon UK?
The “once-in-a-century” move to patch up holes in international tax rules was unveiled in Moscow by George Osborne and fellow finance ministers from France and Germany, who have together been the driving force behind calls for reform.
“It is clear multinational companies have developed an unprecedented know-how for minimising their worldwide tax pressure,” he said.
“These situations are literally impossible to explain to our fellow citizens.”
Osborne agreed: “People and companies have to pay the taxes that are due, it’s the only way to operate in a fair and competitive society … Our message is clear: everyone must pay their fair share of tax.”
Tell Larry to put the drums in the van.
Everyone stay cool