European Parliament’s Legal Affairs Committee vote on the Accounting and Transparency Directives

The Legal Affairs Committee of the European Parliament will adopt its position on both directives including provisions on country by country reporting, which would oblige companies active in the extractive and forestry sectors to disclose the payments they make to governments in all countries in which they work. Following the adoption of similar rules in the US in August, the European Parliament has the responsibility to adopt an ambitious proposal to not only fight against corruption but also help both developing countries and EU member states to combat tax evasion and avoidance.