Tax Research UK
A May 2010 briefing from Tax Research UK (prepared by Richard Murphy) explains the benefits of an international country-by-country reporting standard.
In short, the briefing explains that country-by-country reporting would:
- Provide a stakeholder view of accounting;
- Create reporting of results by country, without exception, which has previously been unknown;
- Provide a new view of corporate structures;
- Impart a new understanding of what the business of a corporation is, and where it is;
- Opens up a new perspective on world trade because intra-group transactions would be reported for the first time in multinational company accounts;
- Give a new view of world labour markets;
- Create an entirely new tool for geo-political risk profiling of companies;
- Permit better appraisal of corporate contributions to the governments that host their activities and in the process contribute to constraining corruption on the part of some recipient governments;
- Provide better awareness of the true extent of tax haven activity;
- Allow measurement of tax lost through tax planning by corporations through the relocation of profit;
- Provide a better understanding of the physical resource allocation of the corporate world.
Download the report here