A fundamental sticking-point of country-by-country reporting (CbCR) is that companies’ tax affairs could be published in the public sphere. This is causing a great deal of distress for multinationals concerned about confidentiality and competition. There is consequently a big debate about how to comply and whether companies should comply at all.
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Two months since EU political agreement on pillar two and few member states have made progress on new national laws, but the arrival of OECD technical guidance should quicken the pace. Ralph Cunningham reports.