The European Commission will today outline measures that would force large companies to disclose profits and profits in each of the EU ’s 28 states as well as in fiscal statements . All major companies with a turnover larger than $ 750 m operating in Europe will also have to publish how much they tax they pay outside of the EU . The Commission has been working on the measures for some time , however , the recent revelations in the Panama Papers led regulators to expand their proposals to include tax havens . In order to become binding , the measures have to be backed by a qualified majority of finance ministers and the European Parliament . “You are better off with a simpler system that people can understand. Officials have stated that an official list of tax havens will be available within six months .
The European Commission will today outline measures that would force large companies to disclose profits and profits in each of the EU ’s 28 states as well as in fiscal statements . All major companies with a turnover larger than $ 750 m operating in Europe will also have to publish how much they tax they pay outside of the EU . The Commission has been working on the measures for some time , however , the recent revelations in the Panama Papers led regulators to expand their proposals to include tax havens . In order to become binding , the measures have to be backed by a qualified majority of finance ministers and the European Parliament . Officials have stated that an official list of tax havens will be available within six months .