“Germany mandates international companies to publish profit and tax payments abroad”

BERLIN (dpa-AFX) – In the future, high-revenue companies and corporations will have to disclose how much profit they make abroad and how much tax they pay there. The Bundestag decided on Thursday evening to implement a corresponding EU directive. The obligation to publish applies to companies with a worldwide annual turnover of at least 750 million euros. According to government information, there are around 500 of these in Germany. Multinational corporations with headquarters outside the EU are also affected if they have a larger subsidiary or branch in Germany.