EU seeks to force big business into disclosing tax bills

Europe’s top regulatory official is seeking to force large companies to disclose how much tax they pay in each country where they operate, a measure some politicians say could curb tax avoidance.

Michel Barnier, the European commissioner in charge of drafting business regulation, said rules which will force banks to report their profits, taxes, and subsidies by country from 2015 should be extended to cover other companies.

“We will expand these reporting obligations to large companies and groups,” he said yesterday.