According to recent reports, a draft version of a European Commission proposal for public Country-by-Country (CbC) reports has been unofficially released. Under the proposal, MNE groups with consolidated annual revenue of EUR 750 million or more with operations in the EU would be required to publish a public CbC report.
The requirement would apply for ultimate parent entities of MNE groups meeting the threshold if resident in the EU. If the ultimate parent were not resident in the EU, an EU…