President Juncker seems to be backing public country-by-country reporting

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If the EU web site is to be believed powerful support is developing for country-by-country reporting. They say:

European Commission President Jean-Claude Juncker supports forcing multinational companies like Google, Amazon, and Apple to publish the profits they make and the taxes they pay in each EU country they operate in.

As they also note:

Global companies exploit their network of subsidiaries and favourable tax regimes in some countries to shift profits around and minimise their tax bills. On Thursday (28 January), the Commission announced its Anti-Tax Avoidance Package, which included a proposal for member states to share tax-related information about subsidiary firms of global companies.

That data will remain secret and in the hands of national tax authorities, in line with the Base Erosion and Profit Shifting (BEPS) international standards agreed by the OECD last year.

EurActiv has learnt Juncker, and many of his team of Commissioners, are ready to go further than BEPS by making the information publicly available.“The idea has really gained momentum,” sources said.

I can't imagine the Commission is building up hope with the intention of dropping the issue. Let's hope.

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