George Osborne
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G8 summit: George Osborne unveils tax register plan

Chancellor George Osborne has announced plans to stop multinationals hiding their profits from the taxman in shadowy offshore "shell" companies.

He pledged to set up a UK register of beneficial ownership - which could be open to the public - to make it clear who was gaining from such arrangements.

The US has also backed the idea, although it is not yet clear if all G8 nations will agree to the plan.

Mr Osborne said that the G8 summit should be seen as a success.

  • 18 Jun 2013
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