Derek Nolan (Galway West, Labour)
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Question 439: To ask the Minister for Jobs, Enterprise and Innovation the elements of Chapter 9 of the Accounting and Transparency Directives currently underway in Brussels, that require further discussion and study as previously indicated; if he will outline his hopes on the outcome of this discussion and study; and if he will make a statement on the matter. [18047/12]

Richard Bruton (Dublin North Central, Fine Gael)
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Since the publication of the proposed Directives in November 2011, discussions have been underway at working group level on the full proposal, including Chapter 9 of the proposed Accounting Directive.

The proposals being discussed include the introduction of a system of reporting by multinational companies of payments to governments, including taxes, royalties and bonuses which will show a company's financial impact in each country.

Discussions are continuing at EU level and it is hoped that there will be a positive outcome to this initiative.