- Multinationals should publicly disclose how much tax they pay, and where
- Disclosure includes taxes paid outside the EU
- Measures embrace companies with worldwide turnover of €750 million or more
Large firms must make information about the tax they pay in each country in the world publicly available, say MEPs after a debate and vote in plenary, Tuesday.
They backed a proposal requiring multinationals to report their tax bills on a country-by-country basis - with possible exemptions in the case of commercially-sensitive information.
The aim of the measure is to increase tax transparency by providing the public with a picture of the taxes paid by multinationals, and where those taxes are paid.
Public access to tax information
Under the proposed measures, the income tax information of multinational firms with worldwide turnover of €750 million or more would be published in a common template in each tax jurisdiction in which the firm or its subsidiary was operating. This data would be…