ECON backs Bowles on tax transparency for all large EU firms

Last night the European Parliament's Economic and Monetary Affairs Committee voted for far-reaching proposals to make large EU firms more transparent in how they pay tax around the globe.

Sharon Bowles MEP, who chairs the Committee, drafted the report on non-financial disclosure and has been fighting to extend corporate transparency for all large European companies - known as country-by-country reporting - since 2009.

Commenting this morning, Ms Bowles said:

"I am pleased my committee colleagues have come together to send a strong signal for country-by-country reporting for all large EU firms.

"Tax transparency should be a given for all sectors, not just for a few. It is in everyone's best interest to know how large companies operate - particularly in the developing world.

"Last night, my colleagues held firm in the face of huge pressure from the business and even NGO lobby and we can be proud of our result: helping to ensure large EU companies pay their fair share in tax."

ENDS

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