Companies Face EU Public Tax Reporting Mandates in Mid-2020s

Multinational companies operating in the European Union would have to start issuing public reports of their tax payments in the mid-2020s, according to a final agreement approved Wednesday by EU ambassadors.

Under the finalized plan, company reports would be required to show tax payments by multinationals and their subsidiaries in each EU country and in jurisdictions considered by the bloc as tax havens. The reports should also include information on ultimate parents, the number of employees, revenues, profits, and other details.

The rule would provide comparable data for public scrutiny on how much tax companies pay in the jurisdictions ...