Corporate Tax Transparency
In the framework of International Executive Program on Government and Public Affairs, IE and CEPS are organizing a round table on Corporate Tax Transparency, a necessary reponsibility of global corporations.
- IntroductionEU officials, industry and NGO representatives come together to discuss the developments of corporate tax transparency and the impact it will have on business, citizens and the EU as a whole. Join us for a debate on the role that global corporations should have as a responsible social and political actor as society increasingly demands access to information and transparency.
- Carl Dolan, Director, Transparency International, Brussels office
- Philippe Lamberts (MEP), Member of the Special Committee on Tax Rulings and Other Measures Similar in Nature or Effect
- Jeroen M Lammers, Manager Fiscaliteit, Corporate Governance at Ondernemingsrecht. VNO-NCW-MKB Nederland
- Jerónimo Payán, Tax Director EMEA, Telefónica
- 12:30 - 13.15: Informal lunch
- 13.15 - 13.25: Opening remarks by Karel Lannoo, CEPS CEO
- 13.25 - 14.00: Panel
- 14.20 - 14.30: Closing remarks by Elena Herrero-Beaumont (Academic Director of Executive Program IECGA).
- Reflections on round table
Karel Lannoo, CEPS CEO and moderator of the event, introduced the speakers and pointed out that work in the field of taxation is limited and that it is moving at a slow pace. Philippe Lamberts MEP, and member of the Special Commission on Tax Rulings, agreed that not much progress is being made. He attributed this partly due to the fact that national governments in the EU are very close to businesses and are immersed in a tax war.
Carl Dolan, Head of Transparency International Brussels mentioned that for the 4 last years the organization has been tracking corporate transparency and results show there is much room for improvement: the average score for companies, on a range from 0 to 100%, is only 6%. Furthermore, there is also a perception issue since when asking citizens on the impact business has on society, 41% considered this impact to be negative.
Jeroen Lammers, from the Dutch affiliate of Business Europe, considered that legislation is under way and that businesses and governments need to rely on clear rules for a level playing field but also for public acceptance of those rules. He stressed the need to set a fair tax mark and to bear in mind the principle of proportionality, rather than transparency at all costs.
Jerónimo Payán, EMEA tax director, Telefónica, added the industry view. He explained how Telefónica has moved ahead and has introduced compulsory information to the Board of Directors, as well as compliance standards that have enabled the company to have a transparency label/award. However, he said, there are still huge differences between companies, particularly between tech companies and more traditional sectors which result in unfair competition; common standards should be set to have a level playing-field.
- Key Points
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