On 12 April 2016, the European Commission issued the proposed Directive for public Country-by-Country (CbC) reporting requirements in the EU. The requirements are similar to, but separate from the non-public CbC reporting requirements based on Action 13 of the OECD BEPS Project. The new public CbC requirement will apply under the EU Accounting Directive (Directive 2013/34/EU), which will be amended by the proposed Directive for this purpose. According to the explanatory memorandum included with proposed Directive, at least 6,000 MNE groups will be subject to the public CbC reporting requirement, with around 4,000 being non-EU MNE groups. Public CbC Reporting...