The Treasury minister's vision for multinationals to report their tax bills for each jurisdiction they operate in will be taken forward by the Organisation for Economic Co-operation and Development.
During a G-20 meeting yesterday in Berlin, Stephen Timms pushed other member nations to back the standard of country-by-country reporting which would be a step towards combating tax secrecy.
Norway, Sweden, Belgium and Korea all showed support for the implementation of the measure, according to the Guardian .
The OECD is to do the background work by looking at whether the standard is going to be achievable.
Timms said: 'We need the OECD to explore the ins and outs of this'.
Anti- tax avoidance groups are backing the move which will see developing countries benefit from the end of multinationals negotiating their own tax terms within their jurisdiction.
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