Public Country-by-Country Reporting (Public CbCR) is creating practical questions for multinational groups with operations in Spain. ICAC’s recent criteria provide useful clarity on whether reporting obligations can be centralised within the group and how the filing deadline with the Commercial Registry should be approached.
Centralising compliance in Spain
The ICAC resolution confirms that where a non-EU group has several Spanish subsidiaries or branches, each entity may not need to publish a separate Public CbCR report.
This reflects the underlying aim of the Directive and Spanish rules: to make tax information transparent and accessible, rather than to require multiple filings that do not add further value.
In practice, this could allow the group to meet the obligation through one Spanish entity designated to publish the report, provided the information covers the relevant group, remains fully accessible and clearly identifies where the report can be consulted.
What groups should consider
|
Requirement |
Practical action |
|
Designated entity |
A single Spanish subsidiary or branch may publish the report. |
|
Published information |
It must cover all the information required in relation to the affected group or company. |
|
Other entities |
They must identify the designated entity and where the report can be consulted. |
A European-level approach
The most practical development is ICAC’s express acceptance that Public CbCR obligations may, in certain cases, be centralised at European level.
Where there is no common intermediate European parent company for the Spanish entities, the non-EU parent company could designate a single entity in an EU Member State to handle publication, accessibility and filing obligations for the wider group.
This interpretation could mean that:
Spanish subsidiaries would not need to publish a separate report in Spain, provided the designated entity and access point are clearly identified; a separate Spanish filing may not be required if access is provided to the report published by the designated entity; and the applicable deadline would follow the rules of the Member State where that entity is located.
For multinational groups operating across several European jurisdictions, this may offer a more efficient compliance model, with clearer governance and less administrative duplication.
Deadline for filing with the Commercial Registry
Groups should also consider the timing of any filing with the Commercial Registry.
The ICJCE’s view is that the six-month period in Additional Provision 11 applies to the approval and publication of the report, while filing with the registry should follow the general annual accounts filing timetable: within one month of approval.
Although ICAC appears to have noted that this point is outside its formal remit, it has not indicated disagreement with this interpretation, and some registry criteria appear to be aligned with it.
What should businesses do now?
Affected groups should use this guidance to assess their reporting model and prepare early. Key actions include:
- Assess whether Public CbCR compliance can be centralised in Spain or at European level;
- Confirm which entity will be responsible for publication, accessibility and, where relevant, filing;
- Check that annual accounts, website disclosures and Commercial Registry documentation are aligned with the chosen compliance approach.