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
Austrian press; Communications Strategy
Phone: +32 487 384 784
Agata Byczewska
Polish press; Communications Strategy; ACP; Windhoek Dialogue
Phone: +32 473 841 093

Latest

Flooded house in flood waters
23.11.2017 - 15:09

Better response to and prevention of natural disasters

Today, the European Commission presented its ideas to reinforce Europe's ability to deal with natural disasters. ‘rescEU’ is an EU...
EU Civil Protection Mechanism to become mandatory
23.11.2017 - 10:45

EU Civil Protection Mechanism to become mandatory

Spurred by deadly wildfires in Portugal and flooding in Eastern Europe, the European Commission is proposing to make the EU’s voluntary Civil...
Young plant
22.11.2017 - 10:10

Omnibus: much-needed adjustments to EU farming policy

The much-needed adjustments of the mid-term reform of the Common Agricultural Policy (CAP) through the so-called Omnibus Regulation are on their way...
Improving contract law for digital content and copyright law for broadcasts in the EU
21.11.2017 - 17:45

Improving contract law for digital content and copyright law for broadcasts in the EU

In committee, MEPs have approved a new law creating an EU-wide standard set of contract rules for digital content provided by businesses to consumers...

Highlights of the week

27.11.2017 - 01.12.2017
word budget

EPP Group priorities reflected in 2018 EU Budget

On Wednesday and Thursday at the mini-Plenary, MEPs will debate and vote on the deal reached during conciliation talks on next year's EU budget...
Bank sign on building

Providing legal certainty for banks and investors

As part of a package of legislative proposals aimed at reducing risks in the EU banking industry, MEPs will vote on Thursday in the mini-Plenary on...
Energy

Energy Union: towards more affordable, more secure energy

Energy will take a prominent place in the mini-Plenary on Wednesday with the European Commission presenting the State of the Energy Union 2017 and...
Bogdana Depo