On 30 September 2022, the German Federal Ministry of Justice published draft legislation for the implementation of EU public country-by-country (CbC) reporting Directive 2021/2101 as regards the disclosure of income tax information by certain undertakings and branches. The draft bill was sent to federal states and associations. The interested parties can comment until 31 October 2022.
According to the draft bill, this applies to the German non-affiliated companies and ultimate parent companies of multinational groups with a consolidated net turnover exceeding an amount of EUR 750 million in two consecutive financial years.
The EU directive has been published on 1 December 2021, entered into force on 21 December 2021 and has to be implemented in national regulation on 22 June 2023 at the latest.
