Alongside the UK, the Netherlands, Denmark, Austria and Italy have all opposed a move to bring European reporting requirements into line with the US, while France, Germany and Portugal all supported the measures, according to the Financial Times.
The backing for the UK’s proposals is another victory for those against quarterly reporting after a report from the European Parliament that claimed such measures were ‘not the appropriate mechanism’ for ensuring the dissemination of reliable information and ‘could represent a worsening of the situation’.
EU finance ministers meet on Tuesday to reach an agreement on the subject.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements