{"id":1729,"date":"2017-02-17T11:25:07","date_gmt":"2017-02-17T11:25:07","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1729"},"modified":"2017-02-17T11:25:07","modified_gmt":"2017-02-17T11:25:07","slug":"eu-proposes-markedly-lower-country-country-reporting-threshold","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/eu-proposes-markedly-lower-country-country-reporting-threshold\/","title":{"rendered":"EU proposes markedly lower country-by-country reporting threshold"},"content":{"rendered":"<p>The European Courts are considering a move to lower the threshold in which businesses must report country-by-country revenues, it has emerged.<!--more--><\/p>\n<p>Targeting a much wider group of multinationals, the threshold could be reduced from \u20ac750m (\u00a3637m) to just \u20ac40m (\u00a334m).<\/p>\n<p>The proposals include:<\/p>\n<ul>\n<li>EU-headquartered large groups, exceeding any two of \u20ac40m consolidated net turnover, \u20ac20m gross balance sheet and 250 employees, must file a country-by-country report;<\/li>\n<li>EU subsidiaries controlled by a non-EU headquartered parent, with a consolidated net turnover exceeding \u20ac40m, must file a country-by-country report; and<\/li>\n<li>Multinationals to provide the above information on their worldwide activities, not just for EU member states.<\/li>\n<\/ul>\n<p>Experts believe that the new Directive will affect around 6,000 multinationals, or about 90 per cent of EU corporate revenues.<\/p>\n<p>A consultation paper on country-by-country reporting said: \u201cSince the beginning of its mandate, the Juncker Commission has pursued an ambitious agenda to ensure fair taxation, meaning that companies should pay their fair amount of taxes in the country where they generate their profits.<\/p>\n<p>\u201cFighting against tax avoidance and aggressive tax planning is also a political priority for the European Commission.<\/p>\n<p>\u201cAn environment of complex tax rules and fiscal secrecy has allowed some multinational enterprises to exploit non-transparent loopholes and mismatches in tax systems within the EU.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Courts are considering a move to lower the threshold in which businesses must report country-by-country revenues, it has emerged.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1729"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1729"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1729\/revisions"}],"predecessor-version":[{"id":1730,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1729\/revisions\/1730"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}