The European Parliament Legal Affairs Committee has published a legal opinion dated 17 January 2017 on the appropriate legal basis for the implementation of the proposed amendment to the EU Accounting Directive (2013/34/EU) for public Country-by-Country (CbC) reporting. The opinion concludes that the appropriate legal basis is Article 50(1) of the Treaty on the Functioning of the EU (TFEU), which supports the legal basis provided for in the latest draft of the public CbC proposal published i…