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<p><strong>The Chancellor of the Exchequer attended a G5 Ministers meeting in Paris
on 28 April to discuss further steps on tackling tax evasion and avoidance. At the
meeting, the G5 Ministers reiterated their strong support to the OECD-G20 Base Erosion
and Profit Shifting project to develop a single set of global rules to tackle aggressive
tax planning. The G5 Ministers agreed that transfer pricing is of the utmost importance
and that the rules must be adapted to ensure that profit and value creation are aligned.
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