The Commission will launch a new proposal on public country-by-country (CbCR) reporting on the 12th of April to make big companies more transparent about their tax affairs. Although overdue, this is a welcome move and we congratulate the Commission for finally hearing what the European Parliament has been demanding for years now.
However, the draft proposal from the Commission raises a few concerns and this is why the Greens / EFA group has written to Jean-Claude Juncker, President of the European Commission, to ask for it to be re-drafted.
You can find our letter to Mr Juncker here.
The Commission now has less than two weeks to revise its proposal and present a real tax transparency initiative, as an important step towards fighting corporate tax avoidance and achieving the greater tax fairness that European citizens deserve.
The Commission draft proposal on CbCR leaked by Politico can be found here.
Today, a large network of civil society organisations and trade unions including Oxfam has come together to urge the president of the European Commission, Jean-Claude Juncker, to increase the scope and ambition of a draft proposal meant to tackle corporate tax avoidance.
Next Tuesday, the Commission will table its proposal for transparency rules known as public country-by-country reporting.
Oxfam, alongside its partners, warns that the draft will fail to advance the EU’s fight for tax justice unless several key concerns are addressed.
Most importantly, policy-makers must ensure that companies disclose where they make profits and where they pay taxes, both within and outside the European Union.
You can read a copy of the joint letter signed by 45 organisations here.