COUNTRY BY COUNTRY REPORTING: BETWEEN …

1 COUNTRY BY COUNTRY reporting : BETWEEN OECD RULES AND THE EU PROPOSAL COUNTRY BY COUNTRY reporting : BETWEEN OECD RULES AND THE EU PROPOSAL The EU at the forefront of a transparency battle? INTRODUCTION The 'Panama Papers' and 'LuxLeaks revelations (..) have shown the urgent need for the EU and its Member States to fight tax evasion, tax avoidance and aggressive tax planning, and to act for increased cooperation and transparency in order to re-establish tax justice, by making our tax systems fairer and ensuring that corporate taxes are paid where value is created, not only among Member States, but also globally . This quote from a European Parliament resolution of 20161 explicit the current state of play regarding tax evasion, this issue having acquired even more importance with the 2017 Paradise Papers scandal2. Vocabulary is important in these fields: aggressive tax planning can be described as the practice of taking profit of inconsistencies generated by the existence of divergent national tax regulation; profit shifting can be defined as an allocation of income BETWEEN entities of the same group in order to lessen the tax liability of this group.

country by country reporting that will have a different aim than the one received by the tax authorities. Setting a mandatory public country-by-country reporting enables citizens to scrutinize the tax behaviour of MNEs, with the hope of encouraging companies to pay the taxes where they make their profit. When it comes to public disclosure, it ...

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