Sir, – Your report on the introduction of a requirement for multinational companies to report on their activities on a country by country basis ("Taxing times for multinationals as finances face greater scrutiny", Cantillon, Business, December 19th) omitted the important fact that the reports will not be made public.
If we have learned anything from the last few years it is the vital role media and civil society play in shining light onto some of the more opaque practices of multinationals.
Resistance from large companies to making this information publicly available shouldn’t be overstated – when the concept of country by country reporting was first raised by civil society in 2007, it too was met with broad resistance.
Now though the general trend is towards greater levels of company transparency and public disclosure.
The Government will have an opportunity in the new year to reverse its opposition to public disclosure, by supporting an EU proposal that will require the kind of transparency that will actually make a difference in holding companies to account.
Crucially, greater transparency may even go some way to restoring public confidence in large multinationals. – Yours, etc,
SORLEY McCAUGHEY,
Head of advocacy and policy,
Christian Aid Ireland,
Ranelagh,
Dublin 6.