Renew Europe calls on EU governments to finally pave the way for greater tax transparency

Today, MEPs are going to urge the Council in a resolution to finally move forward on the so-called “public country-by-country reporting” (CBCR), which will require big multinationals to disclose where they do business, make profits and pay taxes, for each country they operate in. After numerous tax scandals and two years after the European Parliament has already expressed its position on this matter, the Renew Europe Group calls on EU governments to finally stop blocking progress and to adopt a position quickly, so that the growing public demand for greater tax transparency can actually be put into legislation soon.

Stéphane Séjourné, Renew Europe’s Shadow Rapporteur on the CBCR file, said today:

"Aggressive tax planning by the largest multinationals is a scourge that deprives the European Union of an estimated tax gap of between 50 and 70 billion euros each year. Shocked by a series of large-scale scandals, such as Lux Leaks and Panama Papers, our fellow citizens expect greater transparency on economic matters: This is exactly what this text is about. After two years of waiting, the European Parliament cannot accept its blocking in the Council any longer."

ENDS