KPMG report: Employee data reporting for public country-by-country reporting
Discusses how navigating complexities of public CbC reporting requires an understanding of nuances of employee data reporting
Employee data reporting for public country-by-country reporting
Public country-by-country (CbC) reporting would generally require multinational enterprises (MNEs) to publish their CbC information, including profits, taxes, employee numbers, assets, and other relevant information for each country where they operate on their websites, in their annual reports or on a public register. The goal of public CbC reporting is to enable governments, media, and the public to monitor the economic activities and tax contributions of MNEs, and to hold them accountable for their social and environmental impacts. It’s also intended to help safeguard the interests of investors, creditors, and other third parties who rely on this information to make informed decisions about their investments, lending, and business relationships.
Read a May 2024 report* prepared by KPMG LLP that discusses how navigating the complexities of public CbC reporting requires an understanding of the nuances of employee data reporting and the ability to communicate this information effectively to stakeholders.
*Reproduced with permission from Tax Management International Journal, 5/2/2024. Copyright @ 2024 by Bloomberg Industry Group, Inc. (800-372-1033) http://www.bloombergindustry.com
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