Mr Cameron wrote to EU leaders ahead of the meeting urging a US-style cross-border tax information exchange.
BBC: David Cameron seeking action on tax avoidance at EU summit
Ministers should introduce rules requiring companies to publish financial information on a country-by-country basis to discourage cross-border tax evasion, the report said.
Rent-controlled flats in New York or Santa Monica are available only to those with connections, creating corruption in the housing market and a border tax on newcomers who must pay higher rents.
The corporate income tax would be replaced with an 8.5% border adjustable business consumption tax and the alternative minimum tax (AMT) and the estate tax would be repealed.
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Other elements central to the negotiation that would impact middle income earners, mainly the extension of Bush era tax cuts for incomes below the border, patching the alternative minimum tax, and the potential loss in the payroll tax cut, suggest that the economic situation of the middle class as a result of the fiscal reorganization will remain the status quo at best.
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The main component of the current fiscal cliff squabbling, the income border beyond which the tax rate will increase, is clearly not a middle class issue.
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"Courtesy of a world worried about global terrorism, you have the equivalent of a tax on cross-border connectivity, " says Stephen Roach, chief economist at Morgan Stanley.
In a comment on television that was opaque even by French standards, Lionel Jospin last month hinted at his approval of a tax on cross-border capital movements.
James Tobin, an American economist, first proposed a tax on cross-border capital flows in 1972, amid the collapse of the Bretton Woods system of fixed exchange rates.
"Courtesy of a world worried about global terrorism, you have the equivalent of a tax on cross-border connectivity, " says Stephen Roach, chief economist at Morgan Stanley in New York.
If politicians in, say, Arizona are worried that consumers will go online or travel across the border to avoid the punitive sales tax, then they should reduce their sales tax rate.
Croydon contains a government tax office, the UK Border Agency and several banks.
Or that numerous Californians have their official residences just across the border in no-state-income-tax Nevada?
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Speaking in a Holyrood debate on oil and gas, Highland MSP Rhoda Grant said that a new tax might have to be levied on the industry leading to different levels of tax north and south of the border.
Georgia can hardly sustain a 6% income tax if businesses can skip across the border into neighboring states like Florida, Tennessee or South Carolina.
The Northern Ireland quarry industry had been eligible to be exempt from UK tax on quarried material, due to the disproportionate effect the tax would have because of the land border with the Republic of Ireland.
Cross-border transactions inherently take longer thanks to customs and tax considerations, and manufacturing companies are not inclined to rush payment or pay their suppliers until the goods have arrived and are ready to be used on the manufacturing floor.
It is one thing to squash deals that border on economic fictions, but here we had people reaping tax benefits for doing what Congress wanted them to do.
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The ministry said one of the effects of the fat tax was that some Danes had begun crossing the border into Germany to stock up on food there.
At the heart of the act is assistance for small businesses (SMEs), such as the the possibility of a common tax base for SMEs that operate on a cross-border basis.
The movie star and businessman recently fled his native France in a high-profile protest against government plans for a tax hike on the rich, moving just across the border to the town of Nechin, Belgium.
The movie star and businessman recently fled his native France in a high-profile protest of government plans for a tax hike on the richest, moving just across the border to the town of Nechin, Belgium.
Germans, for instance, have long made it a hobby to drive suitcases of cash over their border to Luxembourg, where banks may not pass on information to foreign tax authorities.
And they might suggest his decision should form a precedent for the government to cut Corporation Tax in Northern Ireland to levels competitive with those across the border, in the Republic.
Among the conference's other significant insights: the tax base of an independent Scotland, or other small countries open to cross-border migration of income and assets, may have to focus ever more on items that can't be moved, such as buildings and land.
Mr McColl, one of the country's leading entrepreneurs, said he supported the devolution of corporation tax to enable the Scottish Government to set lower rates which would attract companies north of the border.
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