Memo: Commissioner Barnier welcomes European Parliament vote on the Accounting and Transparency Directives (including country by country reporting)

Commissioner Barnier has welcomed the 12 June 2013 vote by the European Parliament on the new Accounting and Transparency Directives.

Financial reporting obligations have been modernised and costs reduced, in particular for SMEs. With the new rules on country by country reporting, we have created a framework where businesses and governments must disclose revenues from natural resources. This framework will also contribute to the fight against tax fraud and corruption.

• Primary Source

European Commission: Rapid: MEMO/13/544: Revised Directive on transparency requirements for listed companies (Transparency Directive) – frequently asked questions http://europa.eu/rapid/press-release_MEMO-13-544_en.htm

European Commission: Rapid: MEMO/13/540: Financial reporting obligations for limited liability companies (Accounting Directive) – frequently asked questions http://europa.eu/rapid/press-release_MEMO-13-540_en.htm

European Commission: Rapid: MEMO/13/541: New disclosure requirements for the extractive industry and loggers of primary forests in the Accounting (and Transparency) Directives (Country by Country Reporting) – frequently asked questions http://europa.eu/rapid/press-release_MEMO-13-541_en.htm

ESO: Background information: Oil, gas, mineral and logging firms obliged to disclose payments to governments http://www.europeansources.info/record/oil-gas-mineral-and-logging-firms-obliged-to-disclose-payments-to-governments/

---