Released 01 June 2021
The European Parliament has agreed to legislation obliging multinationals to publicly declare what taxes they pay in each EU country, commonly referred to as the public country-by-country reporting (CBCR) directive.
The deal between European Parliament and Council negotiators sets in place rules that require multinationals and their subsidiaries with annual revenues of over EUR 750m, and which are active in more than one country, to publish and make accessible the amount of taxes they pay in each member state. The information will also need to be made available on the internet, using a common template, and in a machine-readable format.
Further information can be found at https://www.europarl.europa.eu/news/en/press-room/20210527IPR04913/eu-lawmakers-strike-milestone-deal-for-corporate-tax-transparency.