Press Release

Tax Transparency: Socialists want to discriminate against European companies

Strasbourg
, 12.06.2017 - 09:05
Reporting standards

EPP Group wants multi-national companies to disclose profit shifting to low tax countries

Dariusz Rosati MEP, the EPP Group's negotiator on new tax transparency rules for multi-national companies, has accused European Socialists of discriminating against European companies. "We want to make visible how multi-national companies shift their profits to low tax countries. But European companies doing business outside Europe must not be forced to reveal everything if competitors don't", Rosati said today in Strasbourg.

"We will vote in favour of more far-reaching tax transparency obligations than the initial draft law. But the Socialists want to jeopardise European companies. We want a safeguard clause which allows the protection of European companies outside Europe under certain cirumstances", Rosati said ahead of today's vote on the so-called public country-by-country reporting in Parliament's Committee on Economic and Monetary Affairs.

European companies doing business outside Europe must not be forced to reveal everything if competitors don't. Dariusz Rosati MEP

The safeguard clause promoted by the EPP Group provides that companies may, under strict conditions, ask for exceptions to the disclosure of certain detailed information, but such exceptions need to be justified to and approved by the European Commission every year.

"Country-by-country reporting does not fix the problem, but makes visible where the problem lies. The next thing to do is to harmonise the way corporate tax is calculated all over Europe without levelling tax rates", Rosati explained.

In the vote this evening at 19.30 hrs, Parliament will agree on its position for the forthcoming negotiations with EU Member States.

Note to Editors
The EPP Group is the largest political group in the European Parliament with 216 Members from 27 Member States

MEP Contacts

-
Dariusz ROSATI
STR - Phone: +33 (0)3 88 175482 Fax: +33 (0)3 88 179482
Email: dariusz.rosati@europarl.europa.eu

Press Contacts

Daniel Köster
Press Relations Economy and Environment Working Group, Economic and Monetary Affairs, Austria; Communications Strategy
Phone: +32 487 384 784
Agata Byczewska
Press Relations Foreign Affairs Working Group, Foreign Affairs, Security and Defence, ACP, Poland; Communications Strategy; Windhoek Dialogue
Phone: +32 473 841 093

Latest

Apple Inc.
21.06.2018 - 14:25

EPP Group wants black list of uncooperative companies

Offshore legal services provider Appleby and Baker McKenzie refuses to appear in Tax Evasion Committee "The lack of cooperation by certain...
Empowering Europeans’ petition drives
21.06.2018 - 10:45

Empowering Europeans’ petition drives

In a bid to help citizens petition the EU for legislation, a European Parliament committee has approved a plan to overhaul the European Citizens...
MEPs in Legal Affairs Committee back new copyright legislation
20.06.2018 - 16:15

MEPs in Legal Affairs Committee back new copyright legislation

In a vote in the European Parliament’s Legal Affairs Committee, MEPs have backed new EU copyright rules that are better adapted to the digital...
Cow eating grass
20.06.2018 - 16:02

Reducing risks of antibiotic resistance for humans

"This is a big step for public health. We will reduce the consumption of antibiotics in farm animals, which are an important source of...

Highlights of the week

25.06.2018 - 29.06.2018
Woman with cancer wearing scarf

EPP Group prioritises fight against cancer

The EPP Group will hold a conference discussing solutions in the fight against cancer. Cancer is one of the main health challenges many Europeans...
Facebook

Facebook under scrutiny once again

After the hearing with Facebook CEO Mark Zuckerberg, and the first hearing within the LIBE, AFCO, JURI and ITRE Committees, a second hearing will...
Flag of Hungary

Situation in Hungary

Members of the Civil Liberties, Justice and Home Affairs Committee will vote on the Report on the situation in Hungary. The vote will take place on...
Christofer Fjellner MEP