EU Public Tax Reporting Rule for Companies Clears Last Big Test

A European Union public tax reporting rule for companies passed its last major step Tuesday after most of the bloc’s countries backed it.

Research and industry ministers from 21 of the EU’s 27 nations agreed to ratify a version of the public country-by-country reporting rule that was agreed provisionally with the European Parliament in June.

• Under the rule, companies with global revenues above 750 million euros ($876 million) will have to disclose details of earnings, profits or losses, taxes paid and numbers of employees in each EU country and in jurisdictions on an EU tax haven list. The obligation is ...