New country-by-country public tax reporting adds to corporate obligations

Non-European companies must now comply with the same reporting obligations as bloc’s own enterprises

Companies must make a public CbC report or a statement publicly available

Public country-by-country (CbC) tax reporting obligations have landed in Ireland for certain multinational enterprises via new EU regulations that came into effect last month.

“The regulations require for the first time that non-EU multinationals with significant turnover doing business in the EU must comply with the same tax reporting obligations as EU multinationals. The regulations increase corporate transparency, enhance public scrutiny, and afford an opportunity for multinational enterprises to show the contribution made by their ...