Corporate Tax

The EU is making progress with a corporate tax transparency plan

EU Economic Commissioner Paolo Gentiloni speaks during a press conference after a virtual meeting at the European Council on February 15, 2021 in Brussels, Belgium.

(STEPHANIE LECOCQ / POOL / AFP via Getty Images)

The European Union will move forward with a plan to force large multinational companies to be more transparent about the taxes they pay in each Member State. This measure is likely to expose the peculiar (and unpopular) deals that small countries often offer businesses and, indirectly, increase EU pressure for higher taxation of digital businesses. The Portuguese government, which holds the rotating presidency of the European Union, announced on February 25th that it had received enough support from member states to advance a plan to attract multinational companies with sales of more than € 750 million that are in the Block operate to force disclosure of their tax payments and activities for each member state. The proposal will now be forwarded to the European Council and the European Parliament, which means it can take months to get through. Opponents of the plan, which include Luxembourg and Ireland, could see its …

Related Articles