In April 2016, the European Commission presented a proposal on public Country-by-Country Reporting requirements for Multinational groups headquartered in the EU with a total consolidated group revenue of at least EUR 750 million (the “public CbCR Directive” or “the Directive”).

The initiative remained in a deadlock due to disagreements on its legal basis, however a recent breakthrough was achieved on 28 September 2021, when the Council of the EU adopted the Council's position at first reading on the EU public Country-by-Country Reporting directive, paving the way for its final adoption. Adoption by the European Parliament is expected later in October 2021. 

The directive will enter into force on the 20th day following its publication in the Official Journal of the European Union. Member states will have 18 months from the entry into force of the directive to transpose it into national law.

Please contact Juanita BrockdorffAdam Polacsik or Beate Orlova for further assistance in relation to CbCr Reporting in Malta.