Group of 8 to collaborate on tax collection as global debt crisis looms.

Group of 8 to collaborate on tax collection as global debt crisis looms.

The BBC and other news organizations have noted that the United States and other members of the G8 (Group of 8) are now collaborating on a scheme to collect tax from those who have used the traditional borders of countries as methods for sheltering their money from governments. Item 1 of the Lougherne Declaration (found here) says “Tax authorities across the world should automatically share information to fight the scourge of tax evasion.” The nature of the information to be shared is not mentioned in the declaration.

Item 9 in the declaration reads “Governments should cut wasteful bureaucracy at borders and make it easier and quicker to move goods between developing countries.” The unification of trade brings up NAFTA (North Atlantic Free Trade Agreement) and its affects on the United States.

For more on the G8 Summit in North Ireland continue reading here: http://www.bbc.co.uk/news/business-22956374

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jeffreyjames says:

I say this so that grammar nazis don’t throw the baby out with the bathwater:

You should use, “It’s effects on the United States.”

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