Belgium: Public country-by-country reporting draft law approved
Preliminary draft law will next be submitted to the Belgian Parliament
Preliminary draft law will next be submitted to the Belgian Parliament
The Belgian Council of Ministers approved the preliminary draft law transposing the EU public country-by-country (CbC) reporting directive (2021/2101) on 13 October 2023.
The new public CbC reporting rules would require groups with consolidated revenue of more than €750 million to draft, publish, and make accessible a report on income tax related information—for financial years starting on or after 22 June 2024.
The requirement would also apply to non-European headquartered groups (i.e., with foreign ultimate parent companies) with a subsidiary or branch in Belgium, under certain conditions. Domestic Belgian companies subject only to the Belgian tax regime would be exempt from the requirement.
The preliminary draft law will next be submitted to the Belgian Parliament for adoption.
Read an October 2023 report prepared by the KPMG member firm in Belgium
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