On 12 February 2024, a draft bill was introduced to the Estonian Parliament to incorporate the EU Public Country-by-Country (CbC) Reporting Directive into Estonian legislation. The parliament acknowledged there are a limited number of companies that fall under the scope of the existing EU Public CbyC Reporting Directive in Estonia. As such, the legislative body has proposed a different approach.
In this respect, rather than introducing new reporting obligations, the draft legislation authorizes Estonian tax authorities to publish private CbC reports they have already received. If approved by Parliament, these changes will come into effect for financial years commencing on or after July 22, 2024.
On 8 February 2024, Estonia’s Ministry of Finance, in a release, announced that it passed the draft legislation to postpone the implementation of the Pillar 2 global minimum tax until the year 2030. The release also highlights that the bill includes provisions for enforcing tax information disclosure requirements for large organizations, specifically public Country-by-Country (CbC) reporting.
