The EPP Group welcomes the outcome of today's vote on new tax transparency rules for multi-national companies. "We want transparency. We want to shed light on the unfair profit shifting practices of certain companies. We are fighting tax avoidance without discriminating against European companies", said Dariusz Rosati MEP, the EPP Group's negotiator of the new law.
According to Rosati, the new rules protect European companies: "The fight against tax avoidance will be in vain if we damage the competitiveness of our companies and the investment climate in the EU. Unfortunately the Socialists have been trying to cripple European entrepreneurs in their quest to score political points", Rosati said.
We hope that other countries will follow these steps. Dariusz Rosati MEP
The EPP Group successfully advocated a safeguard clause which provides that European companies which are in direct competition to non-European companies may ask for exceptions to the disclosure of certain detailed information. Such exceptions need to be justified to and approved under strict conditions by the European Commission every year. This safeguard clause was adopted today.
Rosati hopes that these new European tax transparency rules will set an example for other countries. "This new law will pave the way for greater transparency, also on an international level. The EPP Group hopes that other countries will follow these steps", Rosati said.