EU Parliamentary Committee calls for country-by-country reporting

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eGov monitor - A Policy Dialogue Platform | Promoting Better Governance.

The EU has reported:

Illicit capital flows from developing countries are estimated at US$ 641-941 billion, i.e. roughly ten times global development assistance, says the Development Committee.

MEPs therefore call for "a new binding, global financial agreement which forces transnational corporations, including their various subsidiaries, to automatically disclose the profits made and the taxes paid on a country-by-country basis, so as to ensure transparency about sales, profits and taxes."

Excellent. Country-by-country reporting marches on.