Statement of Senator Carl Levin (D-Mich) H.) on Upcoming G8 Summit

       “The upcoming G8 summit is poised to deliver a hammer blow to offshore corporate tax avoidance. I hope President Obama will help deliver that hammer blow by supporting Prime Minister Cameron’s efforts to require multinational corporations to disclose the taxes they pay on a country-by-country basis and to require shell corporations to disclose their beneficial owners so that law enforcement and tax authorities can see who is behind them. Those two straightforward changes would use transparency to combat offshore corporate tax dodging. The G8 summit should take advantage of the emerging international consensus that we can no longer allow corporations to play one country off another, ducking corporate taxes and leaving other taxpayers to pick up the slack.”