New multinational disclosure proposals a ‘radical change’– Hayes

The Fine Gael MEP Brian Hayes says EU plans to force major multinationals to publically reveal information about their tax affairs are significant. The EU Commission today unveiled proposals to make big multinationals disclose certain tax-related information for each EU country they do business in. This includes information on their activities, the number of employees they have along with facts about their pre-tax profits and losses and how much tax they pay to the tax authorities in each EU country. They’ll also have to reveal information about taxes paid in tax havens. Brian Hayes explains how the new proposals could impact on major firms such as Google, Facebook and Apple which all have significant bases in Ireland.

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