Parliamentarians push for greater transparency in international tax

Parliamentarians attending a global tax transparency summit in London urged governments to support public country-by-country (CbC) reporting of multinationals’ profits and taxes so that citizens can “see for themselves what tax multinationals pay.”

Public disclosure would give people in developing countries access to “crucial information” about multinationals’ activities in their countries and whether multinationals are paying a fair share of tax, according to an open letter signed by 26 parliamentarians at the conclusion of the meeting, hosted by the UK House of Commons Public Accounts Committee (PAC) on December 9 …

Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration, told delegates that in recent years, significant progress had been made toward transparency “but also towards fighting tax avoidance, which is not [only] an issue of transparency but also an issue of changing all the rules of the international tax system.”

Read more: My news story for Tax Analysts, 9 December (paywall).