All material subject to strictly enforced copyright laws. © 2022 ITR is part of the Euromoney Institutional Investor PLC group.

EXCLUSIVE: OECD’s Saint-Amans discusses EC push to force MNEs to publish CbCR data on their websites

Pascal St-Amans

The European Commission’s crackdown on EU and foreign multinationals includes a plan to force MNEs operating in Europe to publish detailed country-by-country tax reports on their company websites – including financial data from offshore subsidiaries.

pascal-photo-jpega.jpg

The latest proposal, outlined on Tuesday after a week of pressure following the release of the Panama Papers, puts European Commissioners at loggerheads with the OECD, which does not advocate public disclosure of CbCR.

Pascal Saint-Amans, OECD director of tax policy and administration, spoke exclusively TP Week in an interview on Tuesday:

  •  “The agreement reached by the OECD along with the 44 other countries is that the reporting should go from one tax administration to another tax administration. The EU wants to go further and what we noticed is that the publicity in the reports will be limited to the transactions that occur within the EU and not beyond because all the other transactions will be grouped into one line which will be interesting, I’m not sure how much usefulness they will have from that. I don’t know how useful this will be but it will depend on how the EU plans to propose it.”

  • “It’s not the largely public CbCR for everybody and it’s limited to the EU, it goes beyond the agreement from the OECD, but in a sense that is not too contradictory of what was agreed at the OECD.”

  • “To the extent that it is limited to transaction occurring within the EU I’m not sure it’s that big of a deal. Not too concerned is maybe the right assessment.”

  • On whether this is unilateral action away from BEPS: “I’m pretty sure some countries like the US will think so."

more across site & bottom lb ros

More from across our site

This week Switzerland opens consultation on draft legislation to implement the OECD’s global minimum tax rate, while Germany cuts VAT amid the highest inflation rate in decades.
ITR looks into the biggest transfer pricing cases in 2022 including multinational companies McDonald’s, BlackRock, and Rio Tinto.
TP technical leader at ‘big four’ firm KPMG Philip Roper talks to senior reporter Leanna Reeves about how businesses can mitigate the transfer pricing impact of higher interest rates in the UK.
Vikas Garg talks to reporter Siqalane Taho about how regulation, technology and the goods and services tax has affected the manufacturing company.
A major shift is underway in tax as the profession transitions from a mostly accounting and finance sector to a hybrid industry that requires significant IT skills, say tax experts.
The Biden administration is about to give $80 billion to the Internal Revenue Service to enhance the tax authority’s enforcement processes and IT systems.
Audi, Porsche, and Kia say their US clients will face higher prices under the Inflation Reduction Act after the legislation axes an important tax credit for electric vehicle production.
This week Brazil’s former President Luiz Inacio Lula da Silva came out in support of uniting Brazil’s consumption taxes into one VAT regime, while the US Senate approved a corporate minimum tax rate.
The Dutch TP decree marks a turn in the Netherlands as the country aligns its tax policies with OECD standards over claims it is a tax haven.
Gorka Echevarria talks to reporter Siqalane Taho about how inflation, e-invoicing and technology are affecting the laser printing firm in a post-COVID world.
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree