The Council agreed its stance, pending the European Parliament's opinion, on a draft directive on the exchange of tax-related information on the activities of multinational companies.
“This is the first step we are taking in our work on the anti-tax-avoidance package”, said Jeroen Dijsselbloem, minister for finance of The Netherlands and president of the Council. “We have strong support for a political agreement on this directive, which will accurately transpose into EU legislation the OECD standard on country-by-country reporting.”
Political agreement is subject to one member state consulting its parliament.
The directive will require multinationals to report tax-related information, detailed country-by-country, and requiring national tax authorities to exchange that information automatically.
It covers multinationals with a total consolidated group revenue of at least €750 million, which hold 90% of corporate revenues.