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G8's position on tax could prove difficult to deliver

The G8 has just published its statement on tax avoidance and transparency Photo: Martin Keene/PA Wire/Press Association Images

What is in a word? Quite a lot when it comes to tax. The G8 has just published its statement on tax avoidance and transparency and while it is wide ranging in its intention, it is not yet clear what impact he deal will actually have.

The document is full of the word 'should', rather than the word 'must'. And while there are plenty of promises in it, the reality could prove hard to deliver.

I've just been talking to George Bull, tax expert, who told me that the principle of what has been said is genuinely 'ground breaking' but that enforcing the intentions will be much harder.

And none of it will mean that any companies like Google and Amazon pay any more tax in the short term.

In the long term, new rules on transparency might lead to changes in behaviour but Bull warns the UK s tougher approach could 'almost certainly' lead to business going elsewhere.