MEPs question commissioner over letter sent to member states about country-by-country tax reporting
“These differences could also lead to regulatory arbitrage where companies take advantage of differences in law to circumvent requirements, but it’s also bad for the single market,” the financial services commissioner told MEPs.However the country-by-country reporting law includes a clause that encourages governments to go further than the minimum set down in the Bill to ensure tax transparency, and several MEPs accused the commission of seeking to exert political influence.
She accused the letter of “overshooting the mandate of the European Commission behind the back” of the European Parliament. However Czech MEP Jiri Pospisil, who sits in Ms McGuinness’s European People’s Party political group, stepped in to defend the commissioner.
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