The Department of Enterprise, Trade and Employment has launched a consultation on the EU Directive on public country-by-country reporting. The Directive requires MNEs whether they are headquartered in the EU or not, with a base, subsidiary or a branch in the EU, and revenue over €750 million, to disclose publicly the tax they pay. For the first time, European and non-European MNEs doing business through their subsidiaries and branches in the EU will be required to publish information on where profits are made, and taxes are paid across the EU and third countries. The Directive must be transposed into national law by June 2023.
The Department of Enterprise, Trade and Employment is consulting on the use of two Member State policy options, being matters in respect of which Member States can or must make a choice.
Respondents are requested to make submissions using the Response Template, clearly marked as ‘response to Public Consultation on the Transposition of Directive (EU) 2021/2101’ to companylawconsultation@enterprise.gov.ie. The deadline for The Department of Enterprise, Trade and Employment submissions is 5pm on Friday, 18 February 2022. For full details see the Department of Enterprise, Trade and Employment’s website.