Disclosure of tax information : Belgium receive a formal notice from the Commission - reaction

Temps de lecture: 2 min |July 25, 2023 à 1:11 PM

Public country-by-country reportingon the amount of corporate taxes

Directive (EU) 2021/2101 requires all multinational companies active in the EU's single market with a permanent presence in the Union and that have revenues above EUR 750 million to publish a report on the amount of corporate taxes they pay in each Member State and in non-cooperative jurisdictions. These reports also include additional information such as the number of employees or turnover per country.

Formal notice

The Commission has sent a letter of formal notice to 17 Member States (Belgium, Bulgaria, Czechia, Estonia, Greece, Croatia, Italy, Cyprus, Latvia, Luxembourg, Malta, Netherlands, Austria, Poland, Portugal, Slovenia Finland) for failure to notify national measures fully transposing the Directive by the deadline of 22 June 2023.

More about the procedure

The Commission is adopting a package of infringement decisions due to the absence of communication by Member States of measures taken to transpose EU directives into national law (referred to as ‘non-communication infringements'). The Commission is sending a letter of formal notice to those Member States who have failed to notify national measures transposing directives, whose transposition deadline expired recently. In this case, there are 25 Member States who have not yet notified full transposition measures for eight EU directives in the fields of health, environment, transport, defence and financial stability, financial services and capital markets union. Member States concerned now have two months to reply to the letters of formal notice and complete their transposition, or the Commission may decide to issue a reasoned opinion.

Reaction

On the proposal of Economy Minister Pierre-Yves Dermagne, the Council of Ministers of 20 juli 2023 has approved a draft bill to transpose European Directive (EU) 2021/2101 amending Directive 2013/34/EU as regards disclosure of income tax information by certain undertakings and branches.