The country-by-country public reporting directive (CbCR), which aims to increase the fiscal transparency of multinational groups, was adopted more than five years after the European Commission's first proposal. The Directive entered into force on 21 December 2021 and addresses, in the first phase, only to multinational groups with consolidated revenues of at least EUR 750 million, for the last two consecutive financial years, whose parent company is established in the EU, and whose parent company is established outside the EU, but has medium or large subsidiaries or branches according to criteria defined at EU level.

For more information, please see the Romanian version of the article, here.