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"OECD calls for crackdown on tax avoidance by multinationals" (Are you listening, Hammerson?)

" '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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