Dáil Éireann Debate, Wednesday - 3 June 2020
409. Deputy Michael McGrath asked the Minister for Business, Enterprise and Innovation her views on public country by country reporting for corporation tax purposes; and if she will make a statement on the matter. [8356/20]
View answerIreland supports transparency and welcomes the proposal for a Directive to amend Directive 2013/34/EU (the Accounting Directive) as regards disclosure of income tax information by certain undertakings and branches (country by country reporting). However, we consider that this measure should have the benefit of tax expertise to ensure that it is consistent with existing reporting requirements and, importantly, with the international cooperation and exchange of information arrangements, which are based on confidentiality. Tax experts are best placed to ensure that international efforts to collect income tax from multinational corporations will not be undermined by new measures.
Ireland supported a joint statement to the Competitiveness Council which agreed with the Council Legal Service that the legal base for this proposal should be a tax base (Article 115 of the Treaty on the Functioning of the European Union), and therefore, should be considered by ECOFIN Council.
