Clearly, this measure seeks to achieve compliance with the OECD's recommendation on country-by-country evaluation. The recommendation calls on large multinationals with revenue of more than €750 million a year to prepare an annual report that would include more information about their taxes, revenue, and assets in each country where they operate.
However, even though the OECD has given us guidance, that does not stop us from going farther. Knowing that the €750-million threshold excludes 85% to 90% of all multinational companies and would apply to only a few dozen companies in Canada, we want to lower the revenue threshold at which reporting would be required from €750 million to €60 million.
We want to lower the threshold in order to increase the level of oversight and transparency.