Ambitious disclosure plan

European Parliament’s resolution: Ambitious disclosure plan

The European Parliament, following its recent push for public disclosure (03 June 2015 post), passed a non-binding resolution by 550 votes to 57 to make this happen.

Key observations:

Country-by-country tax reporting (CbCR) should be publicly disclosed to fight tax evasion and avoidance.
Perceived benefits of public disclosures include better tax justice and an end to tax havens.
All countries should adopt CbCR.
Company ownership should be in the public domain.
EU institutions should monitor actions by the Member States to determine ongoing funding decisions.
The EU continues to be a proactive force in introducing public disclosure changes, which will be a spark for all other countries to follow. Accordingly, monitoring such activities will be a key to understanding future trends and disclosures that can be planned for currently