The Minister of State with responsibility for Company Regulation, Dara Calleary TD, has announced the commencement of the European Union (Disclosure of income tax information by certain undertakings and branches) Regulations 2023. The regulations require non-EU multinationals with subsidiaries and branches in the EU to comply with e same reporting obligations as EU multinational undertakings.
The Minister commented:
“I am pleased to announce the taking effect of the public country-by-country tax reporting regulations, which require for the first time that non-EU multinationals with significant turnover, doing business in the EU must comply with the same tax reporting obligations as EU multinationals.
The regulations increase corporate transparency, enhance public scrutiny, and afford an opportunity for multinational enterprises to show the contribution made by their presence in the EU. This helps ensure trust in the fairness and transparency of our tax system and safeguards a level playing field between EU and non-EU multinationals.
Ireland has long been a supporter of corporate transparency and good governance in the interests of all stakeholders including employees, investors, competitors and the general public, the new regulations support our ambitions in this regard.”
Further information is available on enterprise.gov.ie.
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