{"id":27898,"date":"2019-10-25T03:00:47","date_gmt":"2019-10-25T01:00:47","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=27898"},"modified":"2019-10-24T13:08:39","modified_gmt":"2019-10-24T11:08:39","slug":"tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\/","title":{"rendered":"Tax transparency: MEPs deplore Council&#8217;s lack of action on multinationals"},"content":{"rendered":"<p><em><strong>MEPs urged EU countries to agree on draft rules making multinational companies publicly disclose their profit and tax paid in each country.<\/strong><\/em><\/p>\n<p><a href=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2018\/12\/budget-cash-coins-33692-e1545292403806.jpg\"><img decoding=\"async\" class=\"size-medium wp-image-10990 aligncenter\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2018\/12\/budget-cash-coins-33692-300x200.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a><\/p>\n<p>In 2016 the European Commission produced a proposal on country-by-country reporting of tax-related information by large businesses, which needs to be approved by both Parliament and the Council before it can enter into force. Parliament agreed its\u00a0position\u00a0on the issue in July 2017, but since then has been waiting for the Council to act so that they can start negotiations.<\/p>\n<p>The EU has already adopted legislation that obliges companies to give such information to the\u00a0national tax authorities, but MEPs argue that making the information public would boost transparency and discourage companies from shifting profits they have made across the world to low-tax regimes in a bid to avoid fair taxation.<\/p>\n<p>The proposal concerns big companies worldwide turnover of at least \u20ac750 million, which are operating in several countries. The rules would introduce a requirement for these companies to publicly disclose information on how much they earned and how much tax they paid in each EU country.<\/p>\n<p>During a plenary debate on 22 October, MEPs insisted that the public has the right to know more about the taxation of multinationals.\u00a0Evelyn Regner\u00a0(S&amp;D, Austria) said: <em>\u201cOften these very large companies are not paying sufficient tax. They are creating fictional constructs so that they can reduce their tax burden. Companies owe it to citizens to be clear where and how much tax they have paid.\u201d<\/em><\/p>\n<p>\u201cIt is a way to shine a light on tax avoidance,<em>\u201d<\/em> said\u00a0Othmar Karas\u00a0(EPP, Austria). He pointed out that the EU had successfully introduced public country-by-country reporting for banks. \u201cWhy don\u2019t we continue with multinationals? What are we trying to hide?\u201d<\/p>\n<p>Others argued that the lack of transparency about how multinationals are paying tax is hurting small firms. \u201cThis [proposal] is not only beneficial for tax authorities, but also for local businesses, many of them small and medium-sized enterpresis, who compete at home against such companies yet do not have the advantage of being able to spread their tax expenditures across multiple jurisdictions,\u201d said\u00a0Ond\u0159ej Kova\u0159\u00edk\u00a0(Renew Europe, Czech Republic).<\/p>\n<p>However, EU countries have struggled to agree on a position. Tytti Tuppurainen, speaking on behalf of the current EU Council presidency, told MEPs that work on this was advancing and more meetings are being planned before adding: \u201cOn the Council\u2019s side, we will still probably need more time to clarify our position.<em>\u201d<\/em><\/p>\n<h3>More information<\/h3>\n<p><a href=\"https:\/\/www.europarl.europa.eu\/news\/en\/headlines\/economy\/20191017STO64562\/tax-transparency-meps-deplore-council-s-lack-of-action-on-multinationals\">Full news<\/a><\/p>\n<p><a href=\"https:\/\/www.cde.ual.es\/en\/single-market\/\">Single Market<\/a> Section<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MEPs urged EU countries to agree on draft rules making multinational companies publicly disclose their profit and tax paid in each country. In 2016 the European Commission produced a proposal on country-by-country reporting of tax-related information by large businesses, which needs to be approved by both Parliament and the Council before it can enter into [&hellip;]<\/p>\n","protected":false},"author":101012,"featured_media":27899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[346],"tags":[670,462],"class_list":{"0":"post-27898","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu-news","8":"tag-company","9":"tag-single-market","10":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tax transparency: MEPs deplore Council&#039;s lack of action on multinationals | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cde.ual.es\/en\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax transparency: MEPs deplore Council&#039;s lack of action on multinationals | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"og:description\" content=\"MEPs urged EU countries to agree on draft rules making multinational companies publicly disclose their profit and tax paid in each country. In 2016 the European Commission produced a proposal on country-by-country reporting of tax-related information by large businesses, which needs to be approved by both Parliament and the Council before it can enter into [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cde.ual.es\/en\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\/\" \/>\n<meta property=\"og:site_name\" content=\"CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cdeuniversidadalmeria\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-25T01:00:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2018\/12\/budget-cash-coins-33692-e1545292403806.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"BECACDE1\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cdeualmeria\" \/>\n<meta name=\"twitter:site\" content=\"@cdeualmeria\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"BECACDE1\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\\\/\"},\"author\":{\"name\":\"BECACDE1\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#\\\/schema\\\/person\\\/bf2f837cf3353e2161fe1087adbd728f\"},\"headline\":\"Tax transparency: MEPs deplore Council&#8217;s lack of action on multinationals\",\"datePublished\":\"2019-10-25T01:00:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\\\/\"},\"wordCount\":430,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.cde.ual.es\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/budget-cash-coins-33692-e1545292403806.jpg\",\"keywords\":[\"Company\",\"Single Market\"],\"articleSection\":[\"EU News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\\\/\",\"url\":\"https:\\\/\\\/www.cde.ual.es\\\/en\\\/tax-transparency-meps-deplore-councils-lack-of-action-on-multinationals\\\/\",\"name\":\"Tax transparency: MEPs deplore Council's lack of action on multinationals | CDE Almer\u00eda - 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