Tom Maguire: Groups must be braced for a brave new world of corporate tax reporting

Multinational groups should consider the impact of the imminent public reporting sooner rather than later

27th June, 2021
Tom Maguire: Groups must be braced for a brave new world of corporate tax reporting
Political agreement has been reached on the proposed public country-by-country reporting initiative at EU level. Picture: Getty

Earlier this month, it was announced that political agreement had been reached on the proposed public country-by-country reporting initiative at EU level. Tax matters in the EU generally require unanimity of agreement between member states, but this was treated as an accounting matter that merely required a qualified majority rather than an “all for one and one for all” type approach.

The final “compromise text” will require multinationals with large EU subsidiaries or...

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