22nd June 2023 |
These Regulations give effect to Commission Directive 2021/2101/EU of 24 November 2021 amending Directive 2013/34/EU as regards disclosure of income tax information by certain undertakings and branches.
The Regulations require EU based multinationals with turnover exceeding €750 million in each of the last two consecutive financial years to publicly disclose corporate tax information separately for each Member State and each third country on the EU list of non-cooperative jurisdictions and an aggregate figure for all other third countries.
EU based medium and large subsidiaries of a non-EU ultimate parent undertaking are required to publish a report on income tax information of the parent undertaking.
The undertaking must publish the tax report on its own website unless it makes the report available to the public on the website of the Companies Registration Office (CRO).
The regulations came into operation on 22 June 2023; application begins the first financial year on/after 22 June 2024, with 2025 the first potential year for reporting, to be published in 2026.
Irish Statute Book: SI No 322 of 2023 European Union (Disclosure of Income Tax Information by Certain Undertakings and Branches) Regulations 2023 (PDF, 232KB)
Company Law, Company and Corporate Law