Ministers of European Union Member States adopted the public country-by-country (CbC) reporting Directive at a Council of the European Union (the Council) meeting this week, paving the way for its final adoption this year. The Directive will require certain multinational entities with revenue of more than EUR750 million to publish reports of the income tax they pay in each jurisdiction. The Council gave the CbC reporting proposal qualified majority approval at a meeting in March 2021, but the legal basis of the proposal is still contested by Croatia, Cyprus, the Czech Republic, Hungary, Ireland, Luxembourg, Malta and Sweden...