In Finance Act 2015, Ireland introduced Country by Country reporting in line with the OECD Base Erosion and Profit Shifting (BEPS) Action 13 recommendation. The first reports will be filed with the Revenue Commissioners by the end of this year and these reports will be exchanged with other tax authorities around the world through EU and OECD mechanisms.
Making country by country reports public would go against the consensus reached in the OECD BEPS process that the real value of such reports is to enable tax authorities to see what is really happening and to assist them in carrying out risk assessments. It is important that a consistent global approach is taken on this issue.
A Commission proposal for an EU Directive on public country by country reporting is currently being debated by Member States. As it involves changes to the Accounting Directive, it is therefore being dealt with by my colleague, the Minister for Business, Enterprise and Innovation.