EU: European Commission reviews Foreign Subsidies Regulation and updates public CbC reporting tool
The EC affirmed the effectiveness of the Foreign Subsidies Regulation and released updated tools to support public country-by-country reporting.
The European Commission (EC) on July 14, 2026, published its first review report on the implementation and enforcement of the Foreign Subsidies Regulation (FSR). The EC on July 24, 2026, also released an updated version of its public country-by-country (CbC) reporting taxonomy project.
- The FSR review concluded that the FSR remains fit for purpose and confirmed that preferential tax measures may constitute foreign subsidies. The report also notes that the EC is considering targeted procedural changes to reduce administrative burdens, including possible adjustments to notification thresholds, reporting requirements, and filing procedures. Read an August 2026 report prepared by KPMG's EU Tax Centre
- The updated public CbC reporting package includes a multilingual reporting taxonomy, an iXBRL report generator in xHTML format, and related technical guidance. The initiative is intended to assist multinational groups that are required to publish public CbC reports under the EU Public CbC Reporting Directive. Read an August 2026 report prepared by KPMG's EU Tax Centre