The EU Council of Ministers and the European Parliament have agreed on a compromise aimed at curbing tax avoidance by large corporations.
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(Foto: Westend61/Getty Images)
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Paris The EU Council of Ministers and the European Parliament have agreed on new rules for the transparency of tax payments. Multinational companies with a turnover of over 750 million euros and their subsidiaries will in future have to show in a uniform, machine-readable format how much taxes they pay in each EU country.
The Handelsblatt summarizes the most important innovations.
Does this agreement mean international minimum taxation?
No. The basis for minimum taxation is being negotiated in the industrialized countries OECD and G7. They could be agreed in the summer. The minimum taxation should curb tax evasion worldwide.
What does the new reporting requirement include?
So far, companies do not have to make public which taxes they pay in which EU country. Large companies and organizations in particular shift their profits to low-tax countries. In 2016, the EU Commission proposed a reporting obligation broken down by country.
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