On 1 March 2024, the Netherlands released the Decision of February 14, 2024, concerning the enforcement of the Directive (EU) 2021/2101. As previously stated, the Netherlands approved a law for public CbC reporting in December 2023 to partially implement Council Directive (EU) 2021/2101. This legislation also includes the necessary legal framework for mandating public CbC reporting. The Decision of 14 February 2024 outlines the specific requirements for public CbC reporting. It sets a public reporting threshold of EUR 750 million in annual consolidated revenue for the last two consecutive financial years.
The public Country-by-Country (CbC) report should be filed with the Commercial Register within 12 months after the end of the relevant financial year. A CbC report must be accessible on the reporting entity’s website.
Reporting entities may include ultimate parent companies of groups or stand-alone companies meeting the threshold unless the group companies or stand-alone companies, along with their branches, have a permanent establishment and only conduct business in the Netherlands.
Reporting entities may also include subsidiaries or branches in the Netherlands if the group’s ultimate parent is not subject to the laws of an EU Member State. This is unless the ultimate parent published a Country-by-Country (CbC) report on its website within 12 months after the end of the fiscal year. The CbC report should be available in at least one of the official languages of the European Union and provided free of charge.
The Decision is effective for fiscal years starting on or after 22 June 2024.
