The EU Parliament is pressing for tough disclosure rules for banks which would involve them revealing their profits, tax liabilities and state aid received in each country in which they operate.

The rules are being proposed as part of the implementation of the Capital Requirements Directive IV (the EU's legislation implementing the Basel III rules).

Banks are concerned that the requirements would upend their bookkeeping practices and leave them vulnerable to public pressure over taxes.

There are also concerns that the requirements would be unworkable and such rules would be better dealt with in talks on a separate directive on accounting, which applies similar transparency rules to extractive industries such as energy and mining groups.

Members of the EU parliament say that the proposed transparency requirements for banks are in line with the French, German and British demands that were made at a G20 meeting in Moscow.

It follows a recent report from the Organisation for Economic Co-operation and Development (OECD), commissioned by the G-20, Addressing Base Erosion and Profit Shifting (BEPS), which revealed that multinationals are using sophisticated tax-planning strategies that allow them to pay as little as 5% in corporate taxes when smaller businesses are paying up to 30%.

So far, negotiations between EU ministers, the European Parliament and the Commission have failed to reach an agreement on the disclosure regime. Further negotiations are scheduled for next week.