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G20 finance ministers meeting: Calls for tighter tax rules for multinationals

The G20 finance ministers and central bank governors have called for greater cooperation in tax governance, as they gathered at a meeting in southwest China’s Chengdu. Chinese Finance Minister Lou Jiwei said the G20 should support the development of a new international tax system which is fair, equal, inclusive and organized. His US counterpart Jacob Lew called for a common standard across countries on important issues like transfer pricing.

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