"MEPs' vote could expose multinationals' tax dodging", 8 Jul 2015

A vote in the European Parliament tomorrow could led to European multinational corporations reporting their taxes paid, and profits made, on a country by country basis. Without such a rule, multinationals can shift their profits from country to country with the sole intention of paying less tax, a practice exposed by the LuxLeaks investigation...Country-by-country reporting would help resource rich but revenue strapped governments in the global south, as well, who are often some of the first targets for multinational profit shifting. A landmark 2010 investigation by Action Aid, for example, revealed that SAB Miller, one of the biggest beverage corporations in the world, paid less tax in Ghana than a woman who owned a store just outside their production plant...A recent report from a panel chaired by former President Thabo Mbeki of South Africa listed public country-by-country reporting as a key initiative to stop the illicit flows that are devastating economies in Africa...Many in the business and investment community already support this type of common sense reform. A 2014 poll by PricewaterhouseCoopers, the accountancy firm, found that 59% of CEOs favored public country-by-country reporting...