Executive summary
On 28 September 2021, the Council of the European Union (EU), i.e., the EU Member States, formally adopted its position at first reading on the proposed public country-by-country reporting (CbCR) directive (the Directive). This follows a provisional agreement reached by representatives of EU institutions, i.e., Council of the EU, European Parliament and European Commission, on 1 June 2021.1 For the adoption process to be complete, the European Parliament will need to approv…