Malta has implemented public Country by Country Reporting (CbCR) into domestic legislation (Act XVIII of 2024) on 17 May 2024.
Multinational enterprises (MNEs) located in the EU and those outside the EU operating within the EU via a branch or subsidiary, achieving consolidated annual revenue of at least EUR 750 million for two consecutive years, are under the scope of the directive. They will be required to publicly disclose income taxes paid, as well as other tax-related information such as profits, revenues and employees.
Malta implemented a clause that permits groups within scope to temporarily exclude certain information for up to five years if its disclosure would significantly disadvantage the companies involved, provided they can justify the omission.
Malta’s public CbCR requirements will take effect starting from accounting periods commencing on or after 22 June, 2024.
