At the turn of the year, the German Federal Government introduced its “Draft Act on the Implementation of Directive (EU) 2021/2101 with regard to the Disclosure of Income Tax Information by Certain Companies and Branches” into the legislative procedure. The law stipulates that the companies concerned must publish certain income tax information.
At the core of the legislative process is the new inclusion of §§ 342 to 342p HGB-E, which contains the application requirements, the contents and various accompanying regulations for public country-by-country reporting.
German Taxand member firm Flick Gocke Schaumburg provides an overview of the legislation (article in German).