On 12 May 2016, the European Parliament issued a press release stating that the European Commission's proposal for automatic exchange of Country-by-Country (CbC) reports was welcomed by Parliament, but that further safeguards are needed. Parliament's safeguard recommendations, which were approved by 567 votes to 30 with 53 abstentions, include:
- That the Commission have full access to the information exchanged among member states' tax authorities, to enable it to assess whether member states’…