"How Country by Country Reporting Could Have Made LuxLeaks Unnecessary", 20 Jan 2015

...[A] large number of MEPs...back[ed] a European Parliament committee of enquiry into the...deals...that Luxembourg concluded with...multinational companies to minimise their tax bill...The enquiry will range more widely than the Luxembourg deals – many other EU countries have similar tax rulings...Less attention has been paid to...companies' obligations...Transparency International has been calling for corporate reporting legislation that would make it mandatory for multinational[s]...to report key financial information in every country where they operate...Country-by-country reporting for all European companies was agreed by EU heads of state in their special summit on tax avoidance and tax evasion in 2013 but EU officials and MEPs subsequently back-pedalled...Extending country-by-country reporting [legislation]...would mean that we could have a debate on tax policy that is not driven by media leaks and EU investigations, but by transparent, comprehensive and uniform reporting of the facts...[Refers to Amazon]