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.
A copy of the press release is provided for reference:
- 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.