Luxembourg: Public Country-by-Country Reporting Directive adopted by the EU Council

On 28 September 2021, more than five years after it was first tabled, the so-called “public Country-by-Country Reporting directive” was finally adopted by the EU Council under qualified majority voting.

Following long debates among the EU institutions and the Member States on the need for such a measure (why should multinationals publish information already exchanged between tax authorities?) and on the requirements for its adoption (unanimity vs. majority), the public disclosures of big multinational companies will be increased once again.

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