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Tax evasion to top G-8 summit agenda: Cameron

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(Globalpost/GlobalPost)

British Prime Minister David Cameron said Wednesday that he hopes this month's summit of the Group of Eight nations will "galvanize global action" toward tackling international tax evasion and avoidance.

Cameron is keen for G-8 nations to agree on the automatic exchange of information between tax authorities at the summit in Northern Ireland on Monday and Tuesday.

He told foreign journalists in London he also wants the G-8 to set new global standards in order for tax authorities to uncover who really owns and controls companies.

Cameron said, "I believe we can rise to the challenge," adding that many so-called tax havens were agreeing to be more transparent about companies with bank accounts in their territories.

He also called on the G-8 to "identify ways to make sure companies report where they earn profits and pay tax."

The prime minister said the G-8 is expected to push for progress on various bilateral trade deals.

Cameron told journalists that international leaders will also be calling for higher standards in how gas, oil and mining companies operate and greater transparency in land transactions, particularly in developing countries.

This year's summit, which will be held at a luxury golf resort in Lough Erne, Enniskillen, about 133 kilometers west of Belfast, will also discuss terrorism and the civil war in Syria.

Cameron said G-8 leaders will discuss how they can "up the pressure" toward establishing a peace conference in order to pave the way for a transitional Syrian government.

The G-8 comprises Britain, France, Canada, Germany, Italy, Japan, Russia and the United States.

==Kyodo

http://www.globalpost.com/dispatch/news/kyodo-news-international/130612/tax-evasion-top-g-8-summit-agenda-cameron