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EU Council publishes revised public CbCR proposal

printer Mail

The Council of the EU has published a consolidated compromise proposal to introduce public country-by-country reporting (CBCR), which is being pushed by the Portugal after it assumed the presidency of the Council of the European Union on 1 January 2021.

The proposal contains a number of changes compared to the previous version, in particular relating to its purpose, with additional language now being included concerning:

  • the enhancement of public scrutiny of MNEs active in the EU;
  • the protection of the interests of third parties, including competitors and the general public; and
  • the limitation of CBCR to help with high-level transfer pricing risk assessment purposes only.

This proposal is due to be considered by a working party on 22 January 2021.

Issue: 1516
Categories: News