Chancellor backs calls for fairer tax
Osborne seeks country-by-country reporting
Chancellor George Osborne has put his weight behind the campaign for country-by-country reporting of tax and revenues.
“We should be moving to more public country-by-country reporting,” Osborne said, during a debate with European finance ministers in Brussels last Friday. “This is something the U.K. will seek to promote internationally.”
The EU commission is currently looking at a range of measures (including a Fair Tax Mark), that could be used across the EU to help crack down on tax avoidance.
The commission has also launched a number of investigations into multinationals including Apple, Fiat and Amazon.
Osborne said the bloc can go further and the world should follow.
"There’s a justified public concern in all our countries, certainly in the UK, that multinationals are using outdated international tax laws to avoid paying a fair share of taxes in all jurisdictions," Osborne said, according to the Financial Times.
On his blog tax campaigner Richard Murphy gave the news a cautious welcome saying:
"It just means we are one step closer to getting the data we need to deliver fair tax".
"But if this is all just a game and is going to have conditions like all EU states agreeing before it can be adopted, George Osborne had better take note that he will convince no-one of his good intentions."
Find out more about our tax campaigning including our Amazon boycott >