Fiscal suffocation: red tape sinks Spain's and Europe's competitiveness
España, en particular, y Europa, en general, se enfrentan a un espejo incómodo. Leer
US corporations, led by the National Foreign Trade Council (NFTC), have complained to the European Commission about the complexity and costs of implementing the EU's public country-by-country reporting (CbCR) Directive. The directive requires multinationals to disclose taxes paid, profits, and employee numbers by jurisdiction. The NFTC says that inconsistent implementation by EU member states, including Spain, has created a "logistical nightmare" and increased costs for US companies.
The complaints include issues with translation, reporting deadlines, and disparate national requirements, such as Belgium's demand for detailed reporting on individual Emirates in the UAE. The NFTC is asking the Commission to address these issues to avoid deterring investment in the EU.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
