EU States Block Plan for Public Multinational Tax Reporting

EU plans to require large companies to publicly report their taxes and profits earned on a country-by-country basis stalled again Nov. 28 after 13 EU member states opposed the legislation.

If the legislation had been approved negotiations with the European Parliament would start to finalize the bill. The EP approved its version of the legislation in 2017.

Despite the efforts of EU presidency holder Finland to push the legislation through more than three years after it was proposed, a narrow ‘blocking minority’ of countries rejected the plan—many of them because of the legal mechanism the EU used.

“There ...