Germany, UK propose e-commerce tax effort

MEXICO CITY (AP) ? Germany and the United Kingdom say they are proposing that the world's biggest economies form a common front to fight tax evasion related to internet commerce and other revenue-shifting schemes.

U.K. Treasury chief George Osborne and German Finance Minister Wolfgang Schauble say the idea got strong support Monday as finance ministers and central bank governors from the world's leading economies met in Mexico.

The two say they don't want to scare businesses away, but that they must pay what they owe.

They say a united approach by the world's largest economies is the best way to fight evasion, without penalizing any single country.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-11-05-Mexico-G-20/id-41325fc1ae724a6fb3205f351f31857e

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