The timely and comprehensive PwC update is insightful into the various aspects of the transparency and country-by-country reporting initiatives. Selected topics include:
- Extractive Industries Transparency Initiative (EITI)
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- EU Directives on Accounting and Transparency
- EU Capital Requirements Directive (CRD IV)
- Appendices re: country-by-country reporting information requirements, EITI reporting framework, EU Accounting and Transparency Directive requirements, and EU Capital Requirements Directive IV.
This guide is a valuable overview of the multiple initiatives re: transparency and country-by-country reporting. Tax executives should use this guide in developing a conceptual tax framework for providing summary/detailed data, developing a relevant methodology for capturing such information and providing supplemental information that may be beneficial.