EU Parliament Votes in Favor of Country-by-Country Reporting

March 29th, 2010

Richard Murphy reports that the EU parliament has passed a resolution in support of country-by-country reporting. From his blog:

The EU Parliament has voted by 283 votes to 278 votes for a resolution on development issues that called for:

a new binding, global financial agreement which forces transnational corporations, including their various subsidiaries, to automatically disclose the profits made and the taxes paid on a country-by-country basis, so as to ensure transparency about sales, profits and taxes.

Good news.

This is indeed good news.  However, as this is an EU Parliament resolution, it is not a law. Therefore, it is non-binding; member countries can choose to heed or ignore EU Parliament resolutions as they wish. Which means we still have work to do.

Written by Clark Gascoigne

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