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Public Country-By-Country Reporting / Corporate tax transparency

With the rules on country-by-country reporting, the EU has created a framework where businesses in the extractive and logging industries have to publish their payments to governments relating to the exploitation of natural resources. This will assist populations of resource-rich countries to hold their governments accountable for these proceeds.

In addition, a country-by-country reporting is also required from EU credit institutions (banks). This will ensure that trust in the financial sector is regained. On 12 April 2016, the Commission adopted a proposal for a Directive which imposes on EU and non-EU multinational groups the publication of a yearly report on the profit and tax paid and other information.

Extractive and logging industries: sectoral Country-by country reporting

In the European Union, companies with activities in the extractive and forestry must disclose the payments they make to governments on a country-by-country basis and, where appropriate on project-by-project basis. This enhances government accountability and facilitates the adoption of the Extractive Industry Transparency Initiative by countries.

What is going on?

08.07.2014
Letter from Commissioner Barnier to the US Securities and Exchange Commission on Country-By-Country Reporting by extractive industries
25.06.2014
Public consultation on the equivalence of third country regimes regarding the country by country reporting by extractive and forestry industries
26.06.2013
The Country-By-Country Reporting (Chapter 10) in the new Accounting Directive is adopted by the European Parliament and the Council of the European Union
  • Adopted legislation:
    • Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (Directive 2013/34/EU)
  • Press release (MEMO/13/546)
  • Frequently asked questions (MEMO/13/541)
12.06.2013
Commissioner Barnier welcomes European Parliament vote on the Accounting and Transparency Directives (including Country-By-Country Reporting)
09.04.2013
Agreement on disclosure requirements for the extractive industry and loggers of primary forests and on simpler accounting requirements for small companies:
25.10.2011
The Commission proposes the disclosure of payments to governments by the extractive and forestry industries. For more details, see the:
26.10.2010
Public consultation on Country by Country reporting by multinational companies

Legal framework

Basic acts

  • Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (Directive 2013/34/EU) – consolidated version

Other acts

  • Currently, there are no other acts yet

Relevant committees and expert groups

  • ADC (Accounting Directive Committee)

Large multinational companies: Country-by-country reporting

What is going on?

12.04.2016
The Commission adopted a proposal for a Directive which imposes on EU and non-EU multinational groups the publication of a yearly report on the profit and tax paid and other information. This report will enable citizens to assess the tax strategies and the contribution to welfare by multinationals.
17.06.2015
The European Commission launched a public consultation on the case for further corporate tax transparency, including through country-by-country reporting.