New multinational disclosure proposals a ‘radical change’– Hayes

The Fine Gael MEP Brian Hayes says EU
plans to force major multinationals to publically reveal information about
their tax affairs are significant. The EU Commission today unveiled proposals
to make big multinationals disclose
certain tax-related information
for each EU country they do business in. This includes information on their
activities, the number of employees they have along with facts about their
pre-tax profits and losses and how much tax they pay to the tax authorities in
each EU country. They’ll also have to reveal information about taxes paid in tax
havens.
Brian Hayes explains how the new proposals could impact on major firms
such as Google, Facebook and Apple which all have significant bases in Ireland.

Dur: 00:43

 

EU proposes new disclosure rules for multinationals– Hayes

The EU today published new plans to make
multinationals publically report certain tax related information so that they
pay their fair share of tax. Under the proposals large companies
will have to declare publicly how much tax they pay in each EU country
as well as any activities carried out in specific tax havens.
The rules on country-by-country
reporting would affect multinational firms with more than €750m in sales.
Today’s plans come just shortly after the damning revelations in the Panama Papers about tax havens.  The Fine Gael MEP Brian Hayes says there’s a growing
demand for such transparency.

Out words: big step

Dur: 00:43