EU PUSHES AHEAD WITH COUNTRY-BY-COUNTRY DECLARATION RULES – BUT ALLOWS MAJOR LOOPHOLE
September 1st, 2017
THE DECISION by the European Union (EU) to push ahead with legislation insisting that major companies publish key country-by-country (CbC) tax data might be criticised by some corporates as unnecessary, given earlier legislation has forced them to structure their books on a CbC basis.
But senior accountants are taking a more relaxed position – they think major companies will remain under pressure to be more transparent about their tax policies, and so should be open about their books, and hence control the narrative. And they also counter some alarmist talk ...
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