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Europe opens door for significant tax reform

By Rachel Baird | 27 October 2010

Campaigners probably overuse the word ‘exciting,’ but today we got some news which is, we promise you, just that.

For more than two years now, Christian Aid has been arguing for a new rules to make multinational companies reveal the profits they make and the taxes they pay in developing countries.

And an annoucement today from the European Commission suggests some very influential people agree with us.

News release  Major new move could force multinational tax transparency

Country-by-country reporting is one of the two big demands of our Trace the Tax campaign.

We believe it would help developing countries to collect more of the tax billions that are rightfully theirs and that they desperately need to fund basic public services such as schools and hospitals.

It would do this by helping poor countries’ tax authorities to spot suspicious cases where firms appeared to be improperly shifting their profits into tax havens.

The European Commission's announcement today that it is considering requiring multinational companies in Europe to publish their accounts on a country-by-country basis sounds pretty promising to us.

The commission has launched a consultation on the subject, which closes just before Christmas.

You can be sure we’ll be responding enthusiastically.

What you can do now

  • Watch our video about the impact of unfair tax systems in Guatemala, where half of all children under five suffer chronic malnutrition.

  • Write to the heads of four of the UK's biggest multinationals and ask them to support our Trace the Tax campaign.

Act now  

Reverend Jesse Jackson holding a Christian Aid 'Power to the poor' placard

Video from our supporter day

Relive it now!

 About the author

Rachel Baird

Rachel Baird is the policy and campaigns journalist in Christian Aid's media team