Portugal’s EU Presidency on Thursday (25 February) won broad support form EU countries to move forward with the European public country-by-country reporting directive, which aims to make multinationals publish information on where they make profits and pay taxes.
After national capitals blocked a deal to force multinationals to publish the income tax they pay in the EU last month, businesses representatives argued that corporate tax should not be the sole tax transparency target during an event at EURACTIV.
The European Commission unveiled a whole series of country-by-country recommendations on Wednesday (5 June), including guidance on how to improve transport links and boost sustainability through shrewd investments.
The 20 biggest banks in the eurozone booked over a quarter of their 2015 profits in tax havens, with Luxembourg and Ireland the favourite destinations, a report by Oxfam said on Monday (27 March). EURACTIV France reports.
The public country-by-country reporting imposed by Paris on France’s big banks has revealed that they channel more than a third of their profits through countries with advantageous tax laws, a group of NGOs have found. EURACTIV France reports.
EXCLUSIVE / European Commission President Jean-Claude Juncker supports forcing multinational companies like Google, Amazon, and Apple to publish the profits they make and the taxes they pay in each EU country they operate in.
Google, Amazon, and Apple are among the least transparent multinationals in the world, worse than Russian state-owned energy companies Gazprom, and Rosneft, according to a report published today (5 November) by anti-corruption campaigners.
EXCLUSIVE: Forcing banks in the EU to publish their turnover and taxes will help the economy, according to research for the European Commission that will strengthen the case for public disclosure of the information from next year.
Development aid organisations today (2 July) called on the European Commission to oust auditors PwC from an impact study on country reporting for EU banks, saying the company has lobbied against the legislation and therefore has a conflict of interest.