Netherlands: Public country-by-country reporting implemented
Public CbC reporting rules apply to financial years starting on or after 22 June 2024.
Public CbC reporting rules apply to financial years starting on or after 22 June 2024.
The decree (dated 14 February 2024) on implementation of the EU directive on public country-by-country (CbC) reporting in the Netherlands was published on 1 March 2024.
The provisions of the decree are largely aligned with the text of the directive, but there are three key takeaways:
- The safeguard clause has been adopted, allowing companies to not publish information which would be very disadvantageous to the competitive position of the respective entity.
- Both filing of the report in the Dutch Trade Register, as well as website publication, is required within 12 months after the financial year-end. The report requires to be available on the website for at least five years.
- Failure to comply with the disclosure requirement will result in civil law penalties.
The public CbC reporting rules apply to financial years starting on or after 22 June 2024.
Read a March 2024 report prepared by the KPMG member firm in the Netherlands
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