Our Public Country-by-Country Reporting (pCbCR) Resource Hub is where we set out why and how multinational business should embrace tax transparency, together with the very latest news and analysis.

The pCbCR Resource Hub now includes a running assessment of corporate tax transparency reports from around the world, as required by countries implementing the EU pCbCR Directive (at 17th July 2025). To date, we have sourced and analysed 143 corporate reports. Which is by some way, the most extensive analysis published globally to date.

We are finding that the gap between the corporate progressives and the corporate laggards has nudged even further apart.

Paul Monaghan, Fair Tax Foundation, Chief Executive commented: “This is the third update of our pCbCR database, and each time we extend our findings we find that the underlying trends are hardening. Namely, the majority of multinationals that are impacted by the EU pCbCR Directive have implemented these new tax transparency rules with integrity and courage. Some have even taken the opportunity to go much further, and extend their reporting to all countries in which they operate and to other taxes. Others have opted to implement the directive earlier than required. Japan and the UK are proving to be centres of excellence. On the other hand, many businesses, especially those based in the United States and Switzerland, have opted to do little or nothing. This is unfortunate and short-sighted, not least as robust implementation of the EU pCbCR is sure to become a prominent key performance indicator of responsible tax conduct among investors and other stakeholders.”

Summary of findings

• • Almost two-thirds (61%) of corporate pCbCR reports are good, solid attempts to implement legislation driven by the EU pCbCR Directive.
  • However, in 7% of instances, business have opted to confine disclosures to EU designated tax havens, and refuse to be transparent about their impact across EU Member States.
  • Furthermore, a quarter of parent companies (24%) will not share CbCR data with their Romanian subsidiaries and are effectively refusing to implement the legislation.
  • The frequency of good application of the EU pCbCR requirements was substantially above average among Japanese- and UK-headquartered business (at 76%). It was substantially lower than average among Swiss (44%) and US business (43%).
  • A significant minority of business (13%) embraced the spirit as well as the letter of the legislation, and progressed full public country-by-country reporting and/or voluntarily progressed the EU pCbCR ahead of legislative requirements.

For the very latest data, visit the Fair Tax Foundation pCbCR Resource Hub.