Commission will today outline legislation that would force large multinationals to disclose profits and taxes in each of the EU ’s One states as well as in fiscal havens. a year through corporate tax avoidance, according to the European parliament. All major companies with a turnover larger than €750m 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 Commission led regulators to extend their proposals to include tax havens. In order to become binding, the proposals 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 today .
Commission will today outline legislation that would force large multinationals to disclose profits and taxes in each of the EU ’s One states as well as in fiscal havens. All major companies with a turnover larger than €750m 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 Commission led regulators to extend their proposals to include tax havens. In order to become binding, the proposals 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 today .