The unprecedented attention on companies’ tax affairs has led to a response from both global bodies and individual companies, writes Andrew Packman (PwC).
At a global level the OECD EU Commission and other bodies are working to bring in mandatory requirements for companies to disclose their tax payments on a country by country basis. The guidance notes for the OECD BEPS template released at the beginning of June provided clarity on exchange of information and UK MNCs will be required to make disclosures to tax authorities for accounting periods beginning after 1 January 2016. One of the latest EU developments is the Shareholder Rights Directive currently being considered by the European Parliament. If passed this Directive would require companies (in any sector) to disclose publicly details of revenues profits tax employees and assets in each country of operation.
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
The unprecedented attention on companies’ tax affairs has led to a response from both global bodies and individual companies, writes Andrew Packman (PwC).
At a global level the OECD EU Commission and other bodies are working to bring in mandatory requirements for companies to disclose their tax payments on a country by country basis. The guidance notes for the OECD BEPS template released at the beginning of June provided clarity on exchange of information and UK MNCs will be required to make disclosures to tax authorities for accounting periods beginning after 1 January 2016. One of the latest EU developments is the Shareholder Rights Directive currently being considered by the European Parliament. If passed this Directive would require companies (in any sector) to disclose publicly details of revenues profits tax employees and assets in each country of operation.
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
