01/09/2013
In St. Petersburg, Russian next Thursday
Tax evasion tops the priorities of the G-20
German Chancellor Angela Merkel said that the G-20 leaders Summit this weekend in Russia will put "fight tax evasion" a top priority. According to Merkel in her weekly online today that the G-20 is making progress in combating tax evasion and indicated that the Summit leaders would agree on a process for the exchange of information in this area. The remarks came ahead of the scheduled Summit of the leaders of the top 20 economic power in the world, on Thursday and Friday in the Russian city of St. Petersburg.
Merkel said the G-20 will agree to proposals by industrial States and the Organization for economic cooperation and development to combat tax evasion and will implement these proposals, noting that the aim is to deprive the multinational companies from finding regulations ultimately leads to some place where taxes are not paid. In related news, Merkel asked to make further progress in the regulation of financial markets, and noted that the shadow banks and hedge funds continue to stumble. Merkel expressed her willingness to endorse a timetable clearly sets a date for achieving specific steps in this regard, Merkel said the G20 had agreed on the need to regulate all financial product and all the actors in the financial markets and financial centers, but this is still a clear and ambiguous points.
Russian President Vladimir Putin announced that his country would focus on economic issues, adding we have studied seriously and responsibly every issue on the agenda and we will go to the Summit with a strong bag full of agreements, pointing out that the most important step for the past 100 years is that the States has agreed on coordination and integration of future tax policy, the G20 has prepared a joint plan of action in this regard in cooperation with the Organization for economic cooperation and development.
On the other hand, the EU decided not to transfer the dispute between Ukraine and Russia before the G20 Summit. The Russian-Ukrainian dispute revolves around Ukraine flew towards the signing of an agreement of partnership with the European Union during the month of October, which considered a violation by Russia of the existing Customs Union between themselves and the Government in Kiev. A source at the European Commission in Brussels said : it is clear that the European Union was opposed to the Russian position, but will not transfer the dispute before the G20 Summit, which will address issues related to economic, political, security and international. He said that Ukraine does not belong to the Group of 20 and the difference between them and Russia is binary in nature. The European Parliament called for the inclusion of the issue before the G20 Summit, but several European countries rejected it.
