This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

European Commission proposes public tax transparency rules for multinationals

  • European Union Image

Apr 12, 2016

On April 12, 2016, the European Commission issued a press release announcing that it is proposing that the EU Accounting Directive be amended to require multinationals operating in the EU with global revenue exceeding EUR 750 million ($1.08B CAD) a year to publish key information on where they make their profits and where they pay their tax in the EU on a country-by-country basis.

The same rules would apply to all multinationals doing business in Europe. Companies also would be required to publish an aggregate amount for total taxes paid outside the EU. The rules would be designed to ensure that large groups publish annually a report disclosing the profit and the tax accrued and paid in each EU member state on a country-by-country basis. Information about the company's turnover (or revenues), number of employees and nature of activities would have to be disclosed for every EU member state in which a company is active, as well as for jurisdictions that do not abide by tax good governance standards, i.e. tax havens.

Review the press release on the European Commission's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.