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Technology Stocks : Apple Inc.
AAPL 273.40-0.1%Dec 26 9:30 AM EST
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From: Moonray2/24/2014 9:02:45 AM
   of 213177
 
U.S. Backs G20 Crackdown On Global Tax Loopholes
The United States 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 on Friday that all nations
should adopt the automatic exchange of information as a global standard.

Big budget deficits and revelations that companies such as Apple <AAPL.O> and Google <GOOG.O> use
structures that lawmakers have labeled "contrived" to avoid billions of dollars in taxes, have led to growing
calls to close corporate tax loopholes. The companies say they follow the existing tax rules.

More at: foxbusiness.com

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