Vladimir Putin, David Cameron and Barack Obama
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G8 leaders agree tax evasion measures

18 June 2013 Last updated at 22:54 BST

Leaders of the G8 major economies have agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders.

Governments agreed to give each other automatic access to information on their residents' tax affairs.

They will also require shell companies - often used to exploit tax loopholes and invest money anonymously - to identify their effective owners.

Stephanie Flanders reports.