On 9 February 2023, the Swedish Ministry of Justice published a press release of proposal implementing the EU directive 2021/221 to disclose publicly certain information on a country-by-country (CbC) regarding multinational companies.
According to the proposal, multinationals companies with their ultimate parent company in Sweden, as well as Swedish companies that are taxable in another EU country through permanent establishments, with revenues of more than SEK 8 billion per year must prepare an income tax report with information on their income and the taxes they pay in different countries. The report must be made public by filing with the Swedish Company Registration Office and must be placed on the company’s website.
The proposed changes will take effect on 22 June 2023, and will be applied for the first-time financial year starting on or after 31 May 2024.
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