The Council of the EU has announced that political agreement has been reached for public Country-by-Country reporting in the EU. --- Public country-by-country reporting by big multinationals: EU co-legislators reach political agreement Representatives of the Portuguese presidency of the Council today reached a provisional political agreement with the European Parliament's negotiating team on the proposed directive on the disclosure of income tax information by certain undertakings and branches, commonly referred to as the public country-by-country reporting (CBCR) directive. "Corporate tax avoidance and aggressive tax-planning by big multinational companies are believed to deprive EU countries of more than 50 billion euros...