Public CBCR for multinational enterprises

What has the European Commission proposed?

 

On 12 April 2016 the European Commission published a proposal to require large MNEs to disclose publicly the income tax that they pay on a country by country basis within the EU. The reporting requirements apply not only to European businesses but also to non-European MNEs that do business in the EU. Under the proposal tax on business being undertaken outside the EU can be normally disclosed on an aggregated basis. However in response to recent criticisms of tax havens (in particular the disclosures contained in the Panama papers) where business is being conducted in a jurisdiction which is deemed not to comply with tax good governance standards the information will have to...