Stefan Mileschin

Plans to force the likes of Google and Apple to disclose more about their tax doings will be unveiled by the European Union.

Under new rules multinational firms with more than €750 million in sales will have to detail how much tax they pay in which EU countries and any activities carried out in specific tax havens.

The plans come in the fall-out from the Panama Papers revelations.

Lord Hill, the EU’s financial services commissioner, said: “This is a carefully thought through but ambitious proposal for more transparency on tax.

“While our proposal is not of course focused principally on the response to the Panama Papers, there is an important connection between our continuing work on tax transparency and tax havens that we are building into the proposal.”

http://www.techeye.net/business/eu-p...e-clean-on-tax