EU agrees to force multinationals to disclose tax, piling pressure on UK

Companies with revenues above €750m will be required to publish a country by country breakdown The EU has agreed it will force large multinational companies to publish a breakdown of the tax they pay in each of the bloc’s member states and in tax havens such as Seychelles, piling pressure on the UK government to follow suit. After years of stalled talks, a deal was struck on Tuesday evening between EU governments and MEPs on public country by country reporting, a policy designed to expose how some of the world’s biggest companies – such as Apple, Facebook and Google – avoid paying an estimated $500bn (£358bn) a year in taxes through shifting their profits. Continue reading...
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