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’ tax practices comply with EU rules on State aid; and That member states introduce sanctions to be imposed on multinational companies that fail to file their CbC report...