A north west MEP is asking why the Irish government is blocking an EU proposal that would lead to great transparency on tax paid by multi-national companies in individual countries.
Sinn Fein’s Matt Carthy is a member of the European Parliament’s new special committee that’s examining financial crime, tax evasion and tax avoidance.
Mr Carthy says reporting by individual countries would mean that multinational corporations would be required to publicly report their turnover, profits and tax paid in the countries in which they operate.
Mr Carthy says the Irish government has introduced country-by-country reporting for companies with a turnover of more than €750 million.
But he says it has not introduced the requirement that the reporting be made public which, he claims, will lead to a lack of transparency: