EU prepares to reveal firms’ tax avoidance

EU governments will vote on Thursday on a new rule that would require multinational companies to reveal how much profit they make and how little tax they pay in the bloc’s countries, the Guardian reported. The aim is to expose how large companies, with an annual turnover of more than €750m, avoid paying an estimated €50bn-€70bn a year in EU countries through tax avoidance, and tax deals with some governments.