EU states reject Brussels move to expose companies' tax avoidance

Twelve EU countries have blocked a proposed new rule that would force multinational companies to reveal their profits and how much tax they pay in each member state. The aim of the directive, which would make country-by-country reporting mandatory for companies with a turnover of more than €750m, is to dissuade companies from shifting profits from high-tax countries to zero-tax or low-tax jurisdictions. Ireland is one of the biggest beneficiaries of the current rules. The country hosts corporate offices that collect revenue and profits generated by many multinational companies across ...