A new era of tax transparency begins in Austria in 2025 with the introduction of public Country-by-Country Reporting (Public CbCR). The Austrian CbCR Publication Act (CBCR-VG), published in the Federal Law Gazette BGBI I 83/2024 on July 17, 2024, implements Directive (EU) 2021/2101, amending the EU Accounting Directive. The EU Implementing Regulation 2024/2952, published on […]
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The foundation for applying the transitional CbCR Safe Harbor in the context of the Global Minimum Taxation is a qualified country-by-country report (CbCR). A CbCR is deemed qualified only if it is prepared based on a qualified data basis. The regulation issued by the Federal Minister of Finance on December 5, 2024, provides further clarifications […]
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On 21 December 2021, a new EU Directive (“Directive (EU) 2021/2101”) entered into force. Under the Directive, companies are required to publish a so-called “report on income tax information” (“Public CbCR”). Romania was the first EU Member State to implement the directive into national law. Therefore, for financial years beginning on or after 1 January […]
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Public awareness of the importance of tax as a contribution to society increases especially in times of crisis. The trend towards greater transparency also means that tax has become an established part of sustainability reporting. With the adoption of the “GRI 207: Tax 2019” standard in December 2019, the Global Reporting Initiative (GRI) defined for […]
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