Proposal for a Directive amending Directive 2013/34/EU as regards disclosure of income tax information by certain undertakings and branches

Author (Corporate)
Series Details COM (2016) 198
Publication Date 12/04/2016
Content Type


Legislative initiative presented by the European Commission in April 2016 relating to the disclosure of income tax information by multinational enterprises.

Further information:

The draft law aims to introduce public reporting requirements for the largest companies operating in the European Union (EU). It requires enterprises with global revenues exceeding €750 million a year to public key information on where they make their profits and where they pay their tax in the EU on a country-by-country basis (CBCR). The same rules would applu to non-European multinationals doing business across the EU. In addition, companies would have to publish an aggregate figure for total taxes paid outside the European Union. This proposal amends Directive 2013/34/EU (also known as the Accounting Directive), and it is closely linked to the revision of the Administrative Cooperation Directive.

This initiative is a result of a consultation conducted by the Commission on public reporting and further tax transparency in 2015. The proposal was adopted by the European Commission on 12 April 2016. The European Parliament adopted its position on 4 July 2017. Despite a number of discussions on the matter, the Council of the European Union was still unable to adopt a negotiating approach on this file.

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Commentary and Analysis
The Conversation, 13/04/2016: The new tax laws planned in wake of Panama Papers – and the crucial role of public opinion
Euro|topics, April 2016: EU Commission reacts to Panama Papers
EPRS: Briefing, July 2016: Initial Appraisal of a European Commission Impact Assessment
EY: Global Tax Alert, 07/07/2017: European Parliament votes in favor of public Country-by-Country reporting in first reading
Deloitte: Insights, August 2017: An Update on Public Country by Country Reporting (CbCR)
International Tax Review, 24/08/2018: European Union: Public country-by-country reporting in the EU off the tracks, for now
Global Alliance for Tax Justice: Letter, 31/10/2018: Lack of progress of EU negotiations on European Commission’s proposal for public country by country reporting
EPRS: Briefing, April 2019: Public country-by-country reporting by multinational enterprises
OKFN Blog, 13/05/2019: Two years on, little action from the EU on public country-by-country reporting

Politico, 12/04/2016: Commission announces tax transparency rules for multinationals
BBC News, 12/04/2016: EU seeks more tax details from big firms
EurActiv, 12/04/2016: EU’s new tax haven blacklist doomed to failure, warn campaigners
EUObserver, 12/04/2016: EU commission wants tax haven blacklist
EUObserver, 12/04/2016: EU to toughen corporate tax disclosures

EUR-Lex: SWD(2016)117: Impact assessment
EUR-Lex: SWD(2016)118: Executive summary of the impact assessment
European Parliament: Legislative Observatory: Disclosure of income tax information by certain undertakings and branches
EP: Legislative Train: Proposal on disclosure of income tax information by certain undertakings and branches - public country-by-country reporting
European Commission: Public country-by-country reporting
European Commission: Press Release, 12/04/2016: European Commission proposes public tax transparency rules for multinationals
European Commission: Fact Sheet, 12/04/2016: Introducing public country-by-country reporting for multinational enterprises - Questions & Answers
European Commission: Remarks by Commissioner Jonathan Hill on tax transparency rules for multinationals, 12 April 2016
European Parliament: Press Release, 04/07/2017: Multinationals should disclose tax information in each country they operate
European Parliament: Legislative Observatory: Resolution on the state of play on the proposal for a directive of the European Parliament and of the Council amending Directive 2013/34/EU as regards disclosure of income tax information by certain undertakings and branches (2016/0107(COD)), known as public country-by-country reporting
European Parliament: Press Release, 24/10/2019: Get multinationals to disclose where they pay taxes, MEPs tell member states

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