Preventing competitive disadvantages in public country-by-country reporting
We are concerned that the planned publication of tax data on European companies could put them at a competitive disadvantage vis-à-vis their global competitors. Competitors will be able to draw valuable information on corporate strategy from the data.
In addition, companies will be exposed to unjustified reputational damage in unforeseeable amounts if the public misinterprets the data. In our position paper, we therefore advocate for a safeguard clause that allows companies to publish sensitive tax data only at a later date.