Prince said in his testimony that much of the media's reporting on his pay was inaccurate, adding that Citi's Board of Directors uses a third-party consultant to advise the company on its executives' pay.

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Mr Cameron also wants G8 and EU meetings to include country-by-country reporting of where companies pay their tax.

BBC: David Cameron seeking action on tax avoidance at EU summit

LLCs are tax reporting entities but the members pay tax on their share.

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