Increased Corporate Financial Transparency: Country-by-Country Reporting
This new law requires large multinational companies to publicly disclose detailed financial information, such as revenues and profits, for each country where they operate. The goal is to increase transparency and make it harder to hide profits in tax havens. This allows citizens to better understand where companies pay taxes and how it impacts the economy.
Key points
Large multinational companies will be required to publicly disclose their financial data (revenues, profits, taxes paid) for each country where they operate.
This information will be available online in an easily readable format, increasing corporate transparency.
The aim is to reduce corporate tax avoidance and ensure companies pay their fair share where they generate profits.
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