Hello, welcome everyone to this new episode of the PWC Taxbyte podcast series.

In this podcast we will talk about tax transparency, an interesting and important topic,

and for that topic I have two experts in my virtual recording studio.

First of all, I have with me, Stefan de Bates.

Stefan is a senior council in our transfer pricing team,

formally with the OECD, formerly with the tax authorities,

and combining all of that more than 20 years of experience in transfer pricing.

In addition, we also have Carla Boyens with us.

Carla is a director in our trans-reprising team

and particularly experienced in Babs 13 and the Belgian implementation thereof.

And with these two experts, I look forward to discuss the topic of tax transparency

where quite a bit has happened in the past days.

Before we dive in the topic, let me invite you to subscribe to this podcast via Apple, Spotify or

Google. So you always have the latest edition in your inbox when it's out. But let's kick off.

Text transparency, a lot has happened in the past days.

Stefan, can you explain us what was decided?

Thank you, Peter, and good day to our listeners. We all know country-by-country reporting,

the OECD BEPS Action 13 element, which was introduced into European law and European member states law by DEC4, Directive on Administrative Corporation number 4.

This proposal now is an accounting directive to be approved by qualified majority.

What has happened now is that on 1st of June of this year,

representatives of the Council under the Portuguese Presidency,

they have reached a provisional political agreement with representatives of the European Parliament, their negotiating team, on this proposal of directive on public country-by-country reporting.

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