2 Amendments of Pirkko RUOHONEN-LERNER related to 2016/0107(COD)
Amendment 53 #
Proposal for a directive
Recital 4
Recital 4
(4) Calling for a globally fair and modern international tax system in November 2015, the G20 endorsed the OECD ‘'Action Plan on Base Erosion and Profit Shifting’' (BEPS) which aimed at providing governments with clear international solutions to address the gaps and mismatches in existing rules which allow corporate profits to shift to locations of no or low taxation, where no real value creation may take place. The BEPS initiative fell short of the pledge that the G20 finance ministers issued in St. Petersburg in September 2013 when they stated that "profits should be taxed where economic activities deriving the profits are performed and where value is created."[1] The failure of the BEPS process to meet its original objectives underlines the importance of heightened country-level reporting for all large enterprises. In particular, BEPS Action 13 introduces a country-by- country reporting by certain multinational undertakings to national tax authorities on a confidential basis. On 27 January 2016, the Commission adopted the ‘'Anti-Tax Avoidance Package’'. One of the objectives of that package is to transpose into Union law, the BEPS Action 13 by amending Council Directive 2011/16/EU20 . However, taxing profits where the value is created requires a more comprehensive approach to country-by-country reporting that is based on public reporting. __________________ 20 Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC (OJ L 64, 11.3.2011, p. 1).
Amendment 70 #
Proposal for a directive
Recital 5
Recital 5
(5) Enhanced public scrutiny of corporate income taxes borne by multinational undertakings carrying out activities in the Union is an essential element to promote corporate accountability, further foster corporate responsibility, to contribute to the welfare through taxes, to promote fairer tax competitionevent exploitation of the loopholes in tax systems within the Union through a better informed public debate and to restore public trust in the fairness of the national tax systems. Such public scrutiny can be achieved by means of a report on income tax information, irrespective of where the ultimate parent undertaking of the multinational group is established.