Public Country-by-Country Reporting Requirements (Public CbCR) Now in Force
New requirements for Public Country-by-Country Reporting have officially come into force in Malta. Large multinational enterprises are now obligated to publicly disclose their tax payments and other financial information across different jurisdictions.
The Malta Business Registry has announced the implementation of Public Country-by-Country Reporting (CbCR). This legislation requires large multinational enterprises operating in Malta to publicly disclose specific tax-related information and other financial data on a country-by-country basis.
The initiative is part of an EU-wide effort to enhance corporate transparency and allow the public to better understand the tax contributions of large entities. It targets groups with consolidated revenues exceeding a specific threshold, ensuring they report on profits made and taxes paid in various jurisdictions.
- Large multinational groups must prepare for public disclosure of tax and profit data.
- Potential for increased public and regulatory scrutiny regarding cross-border tax arrangements.
- Entities need to ensure data accuracy as these reports will be accessible to the general public.
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