On 2nd of August 2016, the Finance Ministry published a public consultation on a bill. This would implement the country-by-country (CbC) reporting requirements in EU Directive 2016/881 on exchange of CbC reports among EU member states. In accordance with section 5 of the bill, the proposals align with the OECD BEPS Action 13 minimum standard. According to proposed amending legislation to become effective on 5 June 2017, the CbC report will be mandatory for multinational groups with an annual consolidated turnover in excess of €750 million. Czech companies will be obliged to prepare a CbC report on behalf of the entire multinational group if they are the ultimate parent company of the group or if they have been regulated for the purposes of CbC reporting as representing companies. If the Czech company prepares the CbC report itself, all the member companies of the group will need to be informed of the fact and it will be necessary to further communicate with them so that all the details that are necessary for preparing the CbC report may be obtained.