E.U. To Change Rules To Force International Companies To Reveal Tax Payments

[engine]

No surprise this is coming in Europe.

Europe's top regulatory official is seeking to force large companies to disclose how much tax they pay in each country where they operate, a measure some politicians say could curb tax avoidance.

Michel Barnier, the European commissioner in charge of drafting business regulation, said in a speech in Amsterdam that rules which will force banks to report their profits, taxes and subsidies by country from 2015 should be extended to cover other companies.E.U. To Change Rules To Force International Companies To Reveal Tax Payments [uk.reuters.com]

"We will expand these reporting obligations to large companies and groups," he said on Thursday.

[incrediBILL]

Wonder if this has anything, or the timing anyway, with Apple being grilled in Congress the other day about those billions overseas in Ireland and not taxable in the US.

[tbear]

Well, at least the big companies have until 2015 to find another work around.........