On 26 June 2023, the European Commission published a report on its assessment on the adequacy of the information to be disclosed under Article 89(1) of Directive 2013/36/EU (CRD IV).

This report is prepared under Article 89(6) of CRD IV, which requires the Commission to review whether country-by-country (CBCR) information is still adequate and whether further relevant information should be added. It also requires the Commission to present the outcome of this assessment to the European Parliament and to the Council in view of a possible legislative proposal.

The Commission concludes that the public disclosure of mandatory information under the current CBCR provisions is functioning well within its policy context. In addition, with regard to the administrative burden, the costs incurred by the reporting entities to comply with CBCR are estimated to be negligible, while the benefits for the wider society significantly outweigh the costs. The report notes that there is room for improvements to the regime, but there does not seem to be an appetite among relevant stakeholders to revise the provisions at present.