Childers: Something has to be done about big firms' tax evasion

Ireland East MEP, Nessa Childers, is calling on the Taoiseach Enda Kenny to press strongly at the G8 Summit for a new international taxation framework.

Ms Childers is calling for a system that will prevent multinational companies avoiding or evading billions of euro in unpaid taxes.

Tax avoidance and evasion by multinationals is one of three main topics for discussion at the summit meeting of leaders of the world’s wealthiest countries, which gets underway tomorrow at Lough Erne Resort, in County Fermanagh.

The European Union is represented at the Summit and the Taoiseach will be there in his role as current President of the Council of the European Union.

Ms Childers said tax avoidance by multinationals is a major issue for the European Union.

She said: "I would basically want the Taoiseach to encourage everyone to negotiate a new international taxation framework.

"I mean the Socialists and Democrats have reckoned that nearly 1 trillion euro is sorted away from the EU every year, so something has to be done about it and we can't stay in a state of denial."