More US Companies to Report Tax Info Under New EU Directive

A large portion of multinational enterprises in the US, Japan, and China will soon be obligated to publicly report tax information under a new European Union directive, according to a report from an EU think tank.

Just over 34% of US multinational enterprises will have to report more tax information under the EU’s country-by-country reporting rules taking effect in June, the EU Tax Observatory wrote in a report Thursday.

Over 37% of Japanese multinational enterprises will be required to report, and more than 16% of Chinese enterprises as well, after none of them were previously obligated to report.