Slovakia: Public country-by-country reporting implemented
Qualifying multinational enterprises doing business in the EU need to publicly disclose certain information on a CbC basis
Public country-by-country reporting implemented
An amendment to the accounting law implements EU Directive 2021/2201 requiring qualifying multinational enterprises doing business in the EU to publicly disclose certain information on a country-by-country (CbC) basis—effective for accounting periods beginning 22 June 2024 or later.
The requirement to prepare and publish the CbC report generally applies to the following types of entities:
- Ultimate parent accounting entity with consolidated revenue in excess of €750 million for each of the last two consecutive financial years
- Standalone accounting entity with revenue or net turnover in excess of €750 million for each of the last two consecutive financial years
- Large companies controlled by an ultimate parent accounting entity meeting the size criteria
- Branches of foreign entities that meet the size criteria
The content of the CbC report still remains an open question, as this part of the EU Directive has not been implemented. Information about the content and required terms will be set by measure of the Slovak Ministry of Finance.
The amendment also introduces an obligation to state in the audit report whether the accounting entity was required to prepare and publish a CbC report—effective for audit reports prepared for accounting periods beginning 22 June 2025 or later.
Read a December 2022 report prepared by the KPMG member firm in Slovakia
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.