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ARTICLE · 24 DECEMBER 2021

Public Country By Country Reporting Update

Arthur Cox
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The EU Directive on public country by country reporting of financial and tax information was published on 1 December 2021.

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Fintan Clancy
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Orlaith Kane
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The EU Directive on public country by country reporting of financial and tax information was published on 1 December 2021.

Background

As discussed in our briefing earlier this year, proposals for an EU directive requiring country-by-country reporting of financial and tax information of certain multinational groups or standalone entities to be made publicly available were agreed. The EU published its directive1 ("the Directive") on 1 December 2021 which must be transposed into the national law of EU Member States by 22 June 2023.

While large multinational groups have been required to file a country-by-country report with tax authorities in the EU since 2016, the new directive will require country-by-country financial and tax information to be made publicly available. For many groups there may not be a significant additional compliance burden over and above the requirement to prepare the existing country-by-country report but the fact that the report will

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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