Why 12 EU countries blocked move to expose companies’ tax avoidance



Twelve EU countries have blocked a proposed new rule that would force multinational companies to reveal their profits and how much tax they pay in each member state.
The world’s biggest companies – including the likes of Apple, Facebook and Google – collectively avoid an estimated $500bn a year in tax by shifting their profits from higher-tax countries like the UK, Germany and France, to lower-tax or no-tax countries like Ireland, Luxembourg and Malta.
The EU Competitiveness Council voted down proposals for country-by-country reporting, falling short of the 16 votes it needed to advance by... read more

 
30 November 2019 in Auto, Views: 98
Source: The Week
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