G8 leaders strike deal to fight tax evasion 'scourge' | Bangkok Post: news

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G8 leaders strike deal to fight tax evasion 'scourge'

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Leaders of the G8 major economies struck a deal Tuesday to crack down on the "scourge" of illegal tax evasion and fight corporate tax avoidance that rob government coffers of billions. 

(L-R) Russia's President Vladimir Putin, Britain's PM David Cameron and US President Barack Obama pose for family photo on the second day of the G8 summit at the Lough Erne resort near Enniskillen, Northern Ireland on June 18, 2013. The world's leading industrialised nations struck a deal Tuesday to crack down on the "scourge" of tax evasion and share more cross-border financial information.

As countries across the world labour to cut deficits with deeply unpopular austerity measures, the G8 leaders signalled a radical change towards automatically exchanging tax data in a bid to ferret out cheats.

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