Chancellor George Osborne has renewed his call for international action to tackle so-called "profit shifting" by multinational companies as he unveils the next steps in his fight to reform global tax rules this weekend.
Calls for an overhaul of tax laws, including the controversial transfer pricing rules that were written almost 100 years ago, will be highlighted to finance ministers at the G20 in Moscow by the Organisation for Economic Co-operation and Development (OECD), which will present its report.
The work by the OECD comes as international companies such as Google, Facebook, Amazon and Starbucks have sparked controversy after it emerged that they all pay minimal tax on large UK revenues.
The Chancellor will announce that Britain will chair a new transfer pricing group which will look at how to reform the system which allows profits to be diverted to parent companies or to lower tax jurisdictions, via royalty and service payments.
More top news
"We are not afraid." Those were the defiant words of the Prime Minister this morning as she addressed the Commons.
Andreea Cristea, 29, remains in a critical condition after being rescued from the Thames after a terror attack along Westminster Bridge.
The Prime Minister has praised the former soldier's "huge professionalism" in trying to save the life of Pc Keith Palmer.