EU proposes new disclosure rules for multinationals– Hayes

The EU today published new plans to make multinationals publically report certain tax related information so that they pay their fair share of tax. Under the proposals large companies will have to declare publicly how much tax they pay in each EU country as well as any activities carried out in specific tax havens.The rules on country-by-country reporting would affect multinational firms with more than €750m in sales. Today’s plans come just shortly after the damning revelations in the Panama Papers about tax havens.  The Fine Gael MEP Brian Hayes says there’s a growing demand for such transparency.

Out words: big step

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