According to the new research published by Transparency International EU last July, companies that publish detailed financial information about each country they operate in are not harmed in their ability to make profits and grow their businesses.

The report analyses the performance of 28 European and Indian companies over a three-year period. 43% of the European companies that already publicly report on a country-by-country basis improved or maintained their revenue performance. Among Indian companies that report on subsidiary-by-subsidiary basis, the percentage is even superior: more than 90% of them had a revenue growth comparable or higher than the average of other international companies in a similar sector.

«Companies can no longer say public country-by-country reporting puts them at a competitive disadvantage. The research does not back them up. The EU must do much more to promote this important anti-corruption practice across the corporate world» said Elena Gaita, Policy Officer on Corporate Transparency at Transparency International EU.