UK Embraces Country-by-Country Reporting

June 15th, 2009

Some huge news out of the UK today as the UK Treasury has announced that it will push for the adoption of country-by-country reporting at the upcoming meeting of Finance Ministers in Berlin. From the Guardian:

The UK is backing calls to force multi­national companies to reveal precisely how much tax they pay in each jurisdiction they operate in. The move is being hailed as a significant breakthrough towards ending tax secrecy.

Stephen Timms, the financial secretary to the Treasury, will tell G20 ministers gathering for a meeting in Berlin next week that country-by-country reporting should be introduced. At present, companies do not need to reveal what tax or profits they make in many countries.

This is a huge step forward, and a major victory for groups like Christian aid and the Tax Justice Network (both Task Force members) who have beeen waging a serious campaign for country-by-country reporting – a campaign that has really heated up over the past couple of months.

Congrats to everyone at Christian Aid and TJN!

Written by Clark Gascoigne

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