The European Commission (EC) initiated a public consultation regarding draft legislation for a common template and electronic formats for public country-by-country (CbC) reports on 1 August 2024.
Large multinational corporations operating in the EU must disclose information on the corporate taxes they pay, including contextual information, in the form of annual ‘country by country’ reports. This initiative introduces a common template and electronic formats for these reports.
The template and electronic reporting formats are for the application of the Accounting Directive (2013/34) under the Public Country-by-Country Reporting (CbCR) Directive (2021/2101).
Stakeholders are encouraged to provide their feedback by 29 August 29, 2024.
The Commission will consider the feedback received during the feedback period to finalise the legislation, which will be published on its dedicated website. The European Commission aims to adopt the final version by the end of the third quarter of 2024.
