July 31
2021
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Trajan Shipley
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2nd June 2021
Internal Market Tax

Council and Parliament reach agreement on tax disclosure rules for multinationals

The Council of the EU and the European Parliament have reached a political agreement on the envisaged Public Country-by-Country Reporting Directive (CBCR), a new set of tax transparency rules that, if approved, would require multinationals operating in the EU to disclose their earned profits, paid taxes, and number of employees in each EU Member State where they operate, as well as in countries listed in the EU’s list of non-cooperative jurisdictions for tax purposes.

Under the agreed text, the rules would apply to multinational enterprises or standalone undertakings with a total consolidated revenue of more than 750 million euros in each of the last two consecutive financial years. They will be subject to them irrespective of whe

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