Multinationals now have to declare how much tax they pay in each EU country, under new tax rules

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Multinationals now have to declare how much tax they pay in each EU country

European Commissionner Mairéad McGuinness poses with ECB President Christine Lagarde, centre, and Spain's Economy Minister Nadia Calvino. Image: Armando Franca European Commissionner Mairéad McGuinness poses with ECB President Christine Lagarde, centre, and Spain's Economy Minister Nadia Calvino.

“Multinational companies will have to report on revenues and the taxes they pay in EU countries and outside the EU – a significant step towards a more transparent tax system,” she said. Portugal, which currently holds the six-monthly rotating chair of the European Council, hailed the obligation for public country-by-country reporting as a major step forward for tax justice.

 

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