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Trends in transparency

At a global level the OECD EU Commission and other bodies are working to bring in mandatory requirements for companies to disclose their tax payments on a country by country basis. The guidance notes for the OECD BEPS template released at the beginning of June provided clarity on exchange of information and UK MNCs will be required to make disclosures to tax authorities for accounting periods beginning after 1 January 2016. One of the latest EU developments is the Shareholder Rights Directive currently being considered by the European Parliament. If passed this Directive would require companies (in any sector) to disclose publicly details of revenues profits tax employees and assets in each country of operation.
But we’re also seeing a response at a company level with individual companies developing their voluntary tax disclosures seeking...

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