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US backs G20 crackdown on global tax loopholes

from Reuters

The U.S. threw its weight behind a push to make global taxation reform a key goal for the Group of 20 advanced and emerging economies, supporting moves to close loopholes used by major multinationals to avoid tax. U.S. Treasury Secretary Jack Lew backed the need for tax harmonization, saying that all nations should adopt the automatic exchange of information as a global standard. more

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