It's time to make Google, Apple and other multinational companies pay more taxes. That's the message President Barack Obama and the leaders of the world's leading economies sent to cross-border giants at a summit ending today.
The new rules on taxes would make it harder for companies to hide profits in tax havens and force them to pay tax in the countries where they make money. The G-20 leaders also agreed to an unprecedented deal to share information on individual taxpayers, despite earlier resistance by China.
Low tax payments by major global companies such as Google or Amazon have sparked public anger in Europe which is struggling to emerge from recession.
In a communique published today, the G-20 leaders said they were committed to an action plan to address "base erosion.
