Follow up webinar Public Country-by-Country Reporting

July 4, 2024

Trending topic: where to file your public CbCR?

 "Where exactly should the reports be filed? Is there a central EU repository or do we file with individual national authorities?" This question frequently arose during our last webinar, reflecting a common concern among multinational corporations. The answer varies by jurisdiction. In the EU there is no centralized repository, therefore reports must be filed in accordance with the national laws of each Member State where the multinational group operates. This requires careful attention to ensure compliance across different national regulations. In some countries a publication on the website of the multinational is sufficient, whereas in other cases this website publication needs to be complemented with a filing with the local business register.

Strategic Insight: Understanding Local vs. Global Reporting Obligations

 A key strategic discussion point from our webinar was highlighted by the interplay between the different global initiatives (Pillar 2, public CbCR, GRI VII). This interplay underscores the complexity of navigating the different reporting requirements that differ from one another and are not applied in every jurisdiction consistently. For multinational corporations, it is important to understand how local obligations fit within the global reporting framework to ensure comprehensive compliance. Also, data plays a big role in meeting the various compliance obligations. We would like to emphasize that data requirements including data sources are not harmonized across the reporting requirements. Hence, we recommend reviewing your data carefully to ensure meeting the various obligations, including EU public CbCR, in a coherent way.

We plan to delve deeper into these topics in our upcoming Transfer Pricing Insights and the transfer pricing seminar in October 2024. Stay tuned for more detailed discussions and practical advice on navigating the landscape of public CbCR.

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