On 13 October 2023, the Belgian Council of Ministers passed the preliminary draft law for transposing the EU public country-by-country (CbC) reporting directive (2021/2101).
According to the new public (CbC) rules, groups with consolidated revenue exceeding €750 million will be required to prepare, publish, and provide access to a report containing income tax-related information. This obligation will apply to financial years commencing on or after 22 June 2024.
Additionally, non-European groups with foreign ultimate parent companies with subsidiaries or branches in Belgium will be subject to these requirements, under certain conditions. However, domestic Belgian companies subject to only the Belgian tax regime will be exempt from this requirement.
The preliminary draft law will be submitted to the Belgian Parliament for adoption.
