Hayes warns European Parliament ‘to stop meddling’ in national tax affairs

The European Parliament
today backed a report calling for mandatory country-by-country reporting by
multinationals of profits and taxes. The majority of MEPs also called for a fairer
system of corporate taxes across the EU along with  a common consolidated corporate tax base and more
transparency in any national tax rulings for companies.  However, the Fine Gael MEP Brian Hayes voted
against the report saying the European Parliament shouldn’t meddle in sovereign
tax issues.
 

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European Parliament demands transparent corporate tax reporting

The European Parliament is
calling for a fairer system of corporate taxes across the EU. In a vote today,
the majority of MEPs urged EU countries to agree on mandatory country-by-
country reporting by multinationals of profits and taxes. They’re also calling
for a common consolidated corporate tax base and more transparency in any
national tax rulings for companies. The
MEPs in favour
of these measures, believe that multinational companies should pay their taxes
where they make their profits.  However, the Fine Gael MEP Brian Hayes voted
against the moves saying it is the sovereign right of individual EU states to decide
on their own tax affairs.

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