European Commission’s wants big firms disclose more about their tax affairs

The European Commission has proposed tax transparency rules for multinationals, as the bloc strengthens its work to tackle corporate tax avoidance.

The new proposal will affect multinationals operating in the EU with global revenues exceeding 750 million euros a year.

They will have to list how much tax they pay in and outside the EU countries.

The same rules would apply to non-European multinationals doing business in Europe.

“So, the proposal that we are unveiling today builds on the work that has been taken forward under the ages of OECD to require sharing of information related to corporate tax between tax authorities.”

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