Financial Transparency Coalition

PRESS RELEASE Amid public outcry on tax dodging, European Parliament responds with measured proposal to level the playing field BRUSSELS — Today, the European Parliament voted in favour of a measure to increase shareholders’ rights that includes a requirement for multinational corporations (MNCs) to publicly report financial information on a country-by-country basis. “Today’s vote in

PRESS RELEASE With BRICS Summit just days before the Financing for Development Conference, emerging country leaders have unique opportunity In keeping with their commitment to reform the international financial system, the BRICS group of nations have the opportunity to use their summit this week as a precursor to ensuring that tangible results emerge from the

BRUSSELS—In another move that places Europe at the forefront of the financial transparency wave, the Legal Affairs (JURI) Committee of European Parliament voted in favor of a Shareholders Rights Directive that includes a requirement for multinational corporations (MNCs) to publicly report financial information on a country by country level.

The European Commission’s new measures to combat secret tax deals made between multinational companies and governments cannot be called tax transparency, as they fail to give citizens access to any information.  The Tax Transparency Package, published today in response to the Luxembourg Leaks scandal, makes some improvements to the information that tax administrations receive, but keeps tax rulings confidential, denying proper public scrutiny of governments’ tax administrations and large companies.  Tove Ryding, Head of Tax Justice at the European Network on Debt and Development (Eurodad), said: “This is not tax...