Following one shocking corporate tax scandal after the other, the European Commission is finally discussing a proposal to make multinational corporations publish basic information about where they make profits and what they are paying in taxes – so-called country by country reporting. This move, which would allow parliamentarians, journalists, tax administrations and citizens around the world to see the truth, would be a crucial first step towards making all corporations pay their fair share.
And it would be about time. When multinational corporations and wealthy individuals don’t pay their fair share of tax, it hurts us all. The hardest impacts are felt in the poorest countries, but all across the world, ordinary citizens have to deal with increasing inequality, painful austerity measures and loss of public services. Transparency would instead lead to a number of important benefits – including better conditions for small and medium enterprises, jobs, and financial resources to support public services and sustainable development. (link to a page showing 10 reasons why CBCR is a good idea). That’s why many have already expressed their strong support. (link to page showing support)
But this won’t happen unless we call on the European Commission to take action. Tweet or email the Commissioners today!