Transparency is a crucial element in securing fairer taxation, both in the EU and internationally. It is important for tackling tax abuse and ensuring that taxation reflects where economic activity takes place. The Commission has given high priority to improving tax transparency in the Single Market, and has already put forward a number of important initiatives to this end. In particular, the proposal for the automatic exchange of information on cross border tax rulings, presented in March 2015, will ensure greater openness and cooperation between tax authorities and help governments to better protect their tax bases. Member States should quickly adopt this proposal, so that it can be implemented by 1 January 2016 as foreseen.
Meanwhile, the Commission has identified other measures which should be taken forward to further boost transparency, both in the EU and in relation to third countries. These include a common approach to non-cooperative tax jurisdictions, as well as proceeding on impact assessment work on further options.
Furthermore, the Commission is working with other international partners to promote transparency, including through the Extractive Industries Transparency Initiative (EITI). It also stresses the importance of the implementation of the BEPS Action Plan. These initiatives must foster a level playing field for the taxation of multinational corporations, including in developing countries, as we are determined to tackle tax evasion and avoidance globally.
