Cameron Warns Companies Must 'Pay Fair Share' of Taxes

Cameron Warns Companies Must 'Pay Fair Share' of Taxes

Prime Minister David Cameron warned Thursday that corporations must “pay their fair share” of taxes and said he would use Britain’s G8 chairmanship to counter tax avoidance.

Speaking at the World Economic Forum in Davos, Cameron said too many global businesses were abusing tax schemes, after Britain last year announced a crackdown on multinationals such as Starbucks, Google and Amazon that it claims are avoiding huge tax bills.

He said Britain would use its chairmanship this year of the Group of Eight richest nations to push for cross-border action on tax avoidance.

He insisted such moves were not anti-business.

Britain last month announced a campaign against “tax dodgers” and “cowboy advisers” to claw back £2 billion (2.4 billion euros/$3.2 billion) a year, after lawmakers alleged that multinationals were involved in “immoral” avoidance of tax.