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Tuesday, 30 June 2026 marks an important milestone in the implementation of the EU public Country-by-Country Reporting (pCbCR) Directive. For the first time, many multinational enterprises with a 30 June financial year-end will be required to publish information under the Directive.

As stakeholders and policymakers begin to analyse and interpret the newly available data, it is important that they interpret it within the context of the specific reporting rules defined by the EU Directive.

The pCbCR Directive stands apart from reporting done for tax purposes and its fragmented implementation has created significant complexities for taxpayers.

Read more about how lawmakers should approach this first round of reports and why pCbCR simplification is vital to support tax transparency and reporting efficiency.

The Tax Omnibus presents a critical opportunity to modernise the EU's tax rules in light of the evolving international framework, notably the implementation of Pillar 2. Many existing directives were designed in response to earlier Base Erosion and Profit Shifting (BEPS) measures and now impose duplicative, fragmented and resource-intensive requirements on businesses. These burdens undermine tax certainty, increase compliance costs and weaken the EU’s attractiveness as an investment destination.

The evaluation of the Directive on Administrative Cooperation (DAC) 1-9 can help enhance tax transparency, improve the Single Market and boost Europe’s competitiveness by decluttering tax policy. By ensuring that DAC includes fixed standards and mandating greater transparency for DAC data, lawmakers can improve its functionality. Likewise, by exempting Pillar 2 companies (including those subject to the ‘side-by-side’ safe harbour) from DAC 6 and revisiting the administrative requirements and outcomes of reporting under DAC 6, the Anti-Tax Avoidance Directive (ATAD), the Pillar 2 Directive and the Public Country by Country Reporting (pCbCR) Directive, lawmakers can minimise additional costs for companies and tax authorities alike while maintaining the integrity of the tax system.