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David Cameron urged to back EU tax transparency proposal

David Cameron has been urged to support EU plans put forward today that will require large multinational companies to be more transparent over their tax affairs including the use of tax havens.

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The proposal will require firms with over €750m in sales to publish details concerning their profits and taxes paid in each EU country in which they operate, as well as any activities carried out in designated tax havens. The Commission last year proposed a draft blacklist of tax havens but the move was strongly opposed by the UK government at the time.

Liberal Democrat MEP Catherine Bearder commented:

"David Cameron must get behind this move to improve tax transparency.

"The British public want to see our country working together with others to clamp down on tax avoidance.

"It's about time our government was part of the solution and not part of the problem."

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