Executive summary
On 1 June 2021, representatives of European Union (EU) institutions, i.e., Council of the EU, European Parliament and European Commission, reached an agreement on the proposed public country-by-country reporting (CbCR) directive. The directive, initially proposed by the European Commission in 2016, requires both EU-based multinational enterprises (MNEs) and non-EU based MNEs doing business in the EU through a branch or subsidiary with a total consolidated revenue of more th…