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S&Ds worry about business influence on financial transparency after business organisation's meddling in draft law revealed


this morning that French business organisation Medef, affiliated to Business Europe, partially drafted a non-paper on financial transparency law, aimed at allowing public scrutiny on corporate income tax and fostering corporate responsibility, for the French ministry of economy, the Socialists and Democrats in the European Parliament  worry about the business influence on this crucial file and call on the French government to clarify its position.
The so-called public country-by-country-reporting (pCBCR) would oblige big multinationals to disclose where they make their profits and where they pay their taxes. If the red lines proposed in the French paper were to be adopted, they would considerably water-down the directive’s objective of ensuring meaningful fiscal transparency and corporate responsibility. This revelation comes ahead of a crucial round of negotiations between EU governments, the EU Commission and the European Parliament this afternoon. ....

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