Labour MEPs have backed a range of measures to help reduce corporate tax dodging within the EU and across the developing world.
Labour supported the Shareholder Rights Directive which aims to improve corporate governance and increase accountability of company directors. The European Commission and national governments now have to come forward with a strategy on how to ensure greater transparency in the tax affairs of multinational firms and assist the fight against aggressive tax avoidance, including through introducing country-by-country reporting.
A further report backed by Labour MEPs called on the European Commission to present an action plan to assist developing countries to identify and address instances of tax avoidance and evasion. Helping developing countries to introduce fairer tax systems could secure progress towards the UN Sustainable Development Goals by funding greater access to public healthcare and education.