ECOFIN to discuss Anti-Tax Avoidance package – ONE calls for more transparency

BRUSSELS, 11 FEBRUARY 2016. Tomorrow, 12 February, the European Commission will present the recently launched EU Anti-Tax Avoidance Package to European Finance Ministers, who will gather in Brussels for the Economic and Financial Affairs Council.

The key question is whether ministers will also address the public demand for a more transparent system.

Tamira Gunzburg, Director of ONE Brussels, said:

“A simple adoption of the Anti-Tax Avoidance package as European law is not enough. Finance Ministers should, as soon as possible, require that all European multinational companies publicly report their tax information for every country in which they operate.”

“Public access to this data would allow citizens in developing countries to follow the money and ensure that the revenues are spent responsibly. This could unleash unprecedented domestic funds for governments in developing countries, which currently lose at least $1 trillion every year through shady deals including illegal tax evasion.“

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Notes to editors:

• Contact, information &interviews – Andrea Ghianda // [email protected] // +32 (0)2 300 89 42 // +32 (0)471 89 64 22
• The Anti-Tax Avoidance Package contains various measures, one of which is implementing the OECD recommendations to oblige only extremely large multinationals to report tax information, but only to tax authorities.
• On the question whether to make such information public, the European Commission conducted a public consultation– 65% of the responses supported public disclosure – and is expected to come up with an impact assessment and legislative proposal in early spring of this year.
• The European Parliament has repeatedly called for public disclosure of large multinationals’ financial information on a country-by-country basis. It did so in its tax avoidance and tax evasion in developing countries report, in its position on the revision of the Shareholders Rights Directive and, most recently, in its tax rulings. Read more
• ABOUT ONE: ONE is a campaigning and advocacy organisation of nearly 7 million people taking action to end extreme poverty and preventable disease, particularly in Africa. Not politically partisan, we raise public awareness and press political leaders to combat AIDS and preventable diseases, increase investments in agriculture and nutrition, and demand greater transparency in poverty-fighting programmes. Read more at one.org.