G-20 sets sights on tax evaders like Google and Amazon

Thursday, 5 Sep 2013 | 2:50 PM ET

Russia's finance minister says that G-20 leaders have agreed on a plan to take on multinational companies who tuck away their profits in offshore jurisdictions.

President Obama arrives at G20
President Obama came face to face with Russia's Vladimir Putin at the G-20 summit, reports CNBC's Steve Sedgwick.

Speaking to reporters after Thursday's first Group of 20 session, Anton Siluanov said that leaders of the world's 20 largest economies are indignant over the policies of cross-border giants like Google and Amazon, who "make money in one country" but pay lower taxes elsewhere.

(Read more: Obama, Putin in awkward G-20 handshake moment)

The G-20 leaders agreed on a plan that would prevent these companies from using loopholes and tax havens, Siluanov said. He did not elaborate.

—By The Associated Press.

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