The Directive on public Country-by-Country Reporting (CbCr) for certain undertakings and branches will enter into force on 21 December 2021. EU Member States will have until 22 June 2023 to transpose the Directive into domestic legislation, with the rules applying, at latest, from the financial year starting on or after 22 June 2024.

The new rules will require MNE groups with a total consolidated revenue of €750 million to report either if they are EU parented or otherwise have EU subsidiaries or branches of a certain size. The report will require information on all members of the group (including non-EU members) within seven key areas:

  1. A brief description of activities;
  2. Number of employees;
  3. Net turnover (including related-party turnover);
  4. Profit or loss before tax;
  5. Tax accrued;
  6. Tax paid;
  7. The amount of accumulated earnings.

For more information, please see our insights page and contact us for further assistance in relation to CbCr Reporting in Malta.