European Commission proposes public transparency rules for MNCs to tackle corporate tax avoidance in Europe estimated to cost European Union (EU) countries EUR 50-70 billion a year in lost tax revenues; Proposes that MNCs operating in EU with global revenues exceeding EUR 750 million a year to publish key tax related information for all their EU entities on a country-by-country (CbC) basis; Information to be published includes taxes paid, ...