The drive -- which is backed by a study by the Organization for Cooperation and Economic Development (OECD) on the consequences of the so-called profit shifting -- comes as cash-strapped governments try to use every means to inject new funds into their budgets.
The ministers emphasized that their proposal was supported by the Russian presidency of the G20.
Online retailer Amazon, Internet giant Google as well as coffee shop chain Starbucks have been under the spotlight for their tax strategies in Britain and other EU countries in recent months.
Starbucks came under particular pressure in Britain following the revelation last year that it has paid just £8.6 million (US$13.8 million) in British corporation tax since 1998, despite generating £3 billion in revenues. It has now pledged to voluntarily pay back millions in extra tax.
A person familiar with the OECD's report said it was essential to move rapidly, especially with the United States apparently not sharing Europe's wholehearted enthusiasm for the anti-tax avoidance drive.
"The timetable is going to be very tight -- otherwise the (OECD) report will be buried," the person said.
Avoidance Strategies Slice Taxes
According to the OECD, some multinational companies use avoidance strategies that allow them to pay just 5% in corporate taxes while smaller businesses are paying 30%.
It says that practices have become more aggressive in the past decade, with some multinationals creating offshore subsidiaries or shell companies and taking advantage of the tax breaks offered in the countries where these are registered.
This has led to absurdities like the tax havens of Barbados, Bermuda and the British Virgin Islands in 2010 together receiving together more foreign direct investment than either Germany or Japan, the OECD said.
In 2010, the creation of offshores meant the British Virgin Islands was the second largest investor in China, it noted.
The three EU states and the OECD warned that it would be smaller businesses that paid their taxes in full who risked bearing the brunt of the multinationals' complex schemes to avoid tax.
"In times of difficulty when you need to increase revenues, when the large multinationals are not making a contribution, you go for [taxes from] the small and medium enterprises or the middle classes," said Gurria.
"This is something that is quite undesirable."
Copyright Agence France-Presse, 2013
