EU Parliament toughens stance on public country-by-country reporting
February 20, 2017
The European Parliament Committee on Economic and Monetary Affairs has published a draft report putting forward a more stringent version of the Commission's proposal to introduce mandatory public country-by-country reporting for multinational groups. The report recommends a turnover threshold of €40 million for applying the reporting requirements, rather than the €750 million figure proposed by the Commission. It also recommends that data should not be aggregated, but should provide information on a group's activities in individual jurisdictions worldwide, not limited to the EU.