US official says British government undermined progress on tax avoidance

‘Britain has been attacked by a senior US official for undermining progress on a global clampdown on tax avoidance by multinationals ahead of an international agreement to be published at the G20 talks in the autumn.

Efforts to establish standards that would prevent companies from shifting their profits across borders to avoid taxes are said to have amounted to a “collective failure” due, in part, to self-interested moves made by David Cameron’s government.

George Osborne said in 2013 that Britain was committed to making international tax rules fairer and the rules are due to be finalised this summer and published in October.’

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