EU Public Tax Reporting Agreement Faces Triple Hurdle

EU decision makers must resolve three key issues to finalize rules on public country-by-country tax reporting, a Parliamentary committee chair said Wednesday.

Negotiators from Parliament and from the Council of the European Union—which represents the governments of EU countries—disagree on the details of information to be disclosed, how the data should be presented, and companies’ confidentiality claims, according to Irene Tinagli, chair of the European Parliament’s economic and monetary affairs committee.

Multinationals are wary of the controversy that publicly disclosing their tax payments in each country could invite. Some also say they are concerned that competitors could use the information ...