Finances ministers of G20 states noted the plan to prevent tax evasion of transnational corporations yesterday. Russian Minister for Finances Anton Siluanov described the project and noted that it differed from initiatives proposed at the G20 summit in Saint-Petersburg in autumn.
Yelena Panfilova, Director General of the Transparency International center, emphasized that the project based on ideas of G20 and G8 summits to prevent return of the 2008 economic recession. Fulfillment of the goals needs transparency of transnational companies and their tax payments in different states.
G20 will try to take control and reduce impact of off-shores on financial markets.
Panfilova reminded that a university in Toronto published a report on fulfillment of obligations by states every year. Not all states were following the rules, she said. The expert added that the initiative to fight corruption passed at the G8 summit in Saint-Petersburg in 2005 was not fulfilled very actively.
