Corporate tax: economic affairs MEPs welcome information sharing by authorities

The European Palriament's economic and monetary affairs committee welcomed on 26 April 2016 the European Commission's proposal for automatic exchange of tax information among national tax authorities.

Members of the committee considered it a positive step in the fight against aggressive corporate tax planning. But they also advocated adding further safeguards in the text to ensure that competition in the single market was not distorted by advantageous national tax deals with multinationals.

The plenary session confirmed this position on 12 May.

• Primary Source

ESO: Background information: Country-by-country reporting for multinational enterprise groups http://www.europeansources.info/record/country-by-country-reporting-for-multinational-enterprise-groups/

ESO: Background information: Tax transparency: Commission welcomes agreement reached by Member States for the automatic exchange of information on country-by-country reports (CbCR) of multinational companies, subject to UK scrutiny http://www.europeansources.info/record/press-release-tax-transparency-commission-welcomes-agreement-reached-by-member-states-for-the-automatic-exchange-of-information-on-country-by-country-reports-cbcr-of-multinational-companies-subje/

European Parliament: Newsroom: Press Release, 12.05.16: Corporate tax: MEPs welcome plan for information sharing by national authorities http://www.europarl.europa.eu/news/en/news-room/20160504IPR25761/

EurActiv, 13.05.16: Country-by-country reporting to affect only 10% of multinationals http://www.euractiv.com/section/euro-finance/news/country-by-country-reporting-to-affect-only-10-of-multinationals/

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