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| " 'This is about the survival of democracy,' said OECD secretary general Angel Gurría." Link to The Guardian |
"Governments need to modernise their tax systems to catch international companies that dodge paying corporation tax, the Organisation for Economic Co-operation and Development has warned.
"The ease with which companies shift profits around the world to offshore havens shows that tax authorities need to step up their anti-avoidance efforts or risk losing billions of pounds in much-needed revenues, said the Paris-based thinktank in a report on Tuesday.
"Angel Gurría [above], head of the OECD, said the G20 needed to act this year to combat avoidance, which he said was undermining the ability of governments to recover from the financial crisis."
[Known links between Hammerson and off-shore tax havens are joint retail property development at Brent Cross, the administration of its company share scheme, and joint (possibly independent) ambitions to build a waste incinerator at Brent Cross. Although no more direct tax avoidance by Hammerson is alleged, it is not illegal anyway.]
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