Tax evasion measures confirmed by G8

New measures to clamp down on tax evasion around the world have been confirmed at the G8 meeting of world leaders in Northern Ireland today (June 18th).

The group is being led by the UK this year and the likes of money launderers, illegal tax evaders and corporate tax avoiders will all be clamped down on as a result of the summit communique.

It told countries that they ought to "fight the scourge of tax evasion". Massive companies such as Google, Amazon and Apple have all been criticised in recent months for using careful accounting to limit the amount of corporation tax they have to pay.

Ahead of this week's meeting of the G8, the Organisation for Economic Co-operation and Development called for tough new measures to be introduced to fight tax evasion around the world.

"Vast amounts of money are kept offshore and go untaxed," it was pointed out by the organisation in the build-up to the meeting, which has been taking place at Lough Erne.

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