On 11 May 2023, the German Bundestag (lower house of parliament) announced the approval of the draft law for the introduction of public Country-by-Country (CbC) reporting as required by Directive (EU) 2021/2101 (previous coverage), which must now be approved by the German Federal Council (upper house of parliament - Bundesrat). The draft law is in line with the Directive, including a public reporting threshold of annual consolidated revenue of EUR 750 million in each of the last two consecut…