Released on 28.09. 750 The EU countries have approved a controversial law aimed at disclosing corporate tax-saving models. Photo: Jens Kalaene Already heard? You can now also have your messages read out to you. Simply click on the play symbol in any article or add the article to your personal playlist using the plus symbol and listen to it later. Listen to the article: Large companies in the EU will in future have to publish their net sales, profit before tax and the income taxes actually paid. This should make tax saving models recognizable. Brussels (dpa) - Large corporations in the European Union will soon have to make public how much taxes they pay in each state. The EU governments approved a controversial law that is supposed to disclose tax-saving models of companies June agreed after five years of dispute. The Council of Ministers has now approved this compromise and paves the way for a final decision by Parliament, which is considered a formality. The law must then be within 18 months - probably by the middle of 2023 - to be implemented by the Member States. Visibility for the public After the Regulation, multinational companies with worldwide sales of more than 28 million euros must not only give the tax offices, but also the public insight into their books . This applies to both European and international companies based in the EU. In a country-specific report, they should publish, among other things, the net sales, profit before taxes and the income taxes actually paid. The number of employees and subsidiaries should also be made transparent. The data should be broken down for all EU states, as well as for the states on the EU list for tax havens. This should give an insight into how tax saving models work. Some companies push their profits to countries with the lowest possible tax rates, even though they were not achieved there, in order to save taxes. This happens within the EU, but also worldwide. MEP Sven Giegold (Greens) welcomed the decision. \u00abThe instrument is a sharp sword against tax dumping. Country-by-country tax transparency will reveal how big the damage caused by tax dumping is to the general public, "said Giegold. Sweden and Cyprus voted against the rule, and Member States such as Luxembourg and Ireland voted against known for their low taxes abstained from voting. Giegold therefore fears that some countries could take legal action against the law before the European Court of Justice.