The report on income tax information required under Article 48b must cover all activities of a standalone undertaking or of the ultimate parent and all affiliated undertakings consolidated in the financial statements for the relevant financial year. Required items are: name, financial year, reporting currency and, where applicable, a list of consolidated subsidiaries established in the Union or in jurisdictions listed in Annexes I and II; a brief description of activities; number of employees (FTE); revenues (either by specified line items per Annexes V and VI or as income per the applicable financial reporting framework, excluding value adjustments and dividends; revenues to include related‑party transactions); profit or loss before income tax; income tax accrued (current tax expense on taxable profits/losses in the jurisdiction, excluding deferred taxes and provisions for uncertain tax liabilities); income tax paid on a cash basis (taxes paid during the year, including withholding taxes paid by other undertakings in respect of group payments); and accumulated earnings (past and current profits not yet declared for distribution; for branches, those of the parent that opened the branch).

Member States may allow reporting in accordance with the reporting instructions in Section III, Parts B and C of Annex III to Directive 2011/16/EU. Information must be presented using a common, machine‑readable template and electronic formats to be laid down by Commission implementing acts. The report must present information separately for each Member State (aggregated at Member State level where several tax jurisdictions exist), separately for jurisdictions listed in Annex I on 1 March of the financial year and for jurisdictions in Annex II on 1 March of the year and the preceding year, and aggregated for other jurisdictions. Attribution is on the basis of establishment, fixed place of business or permanent business activity and information attributable to multiple undertakings in one jurisdiction must be summed; no activity may be attributed to more than one jurisdiction. Member States may permit temporary omission of specific items if disclosure would be seriously prejudicial, subject to clear indication, reasoned explanation and disclosure within five years; information for jurisdictions in Annexes I and II cannot be omitted. The report may include a group‑level narrative explaining material discrepancies between accrued and paid tax. The reporting currency is the currency of the consolidated or standalone financial statements (with an exception where a subsidiary’s published accounts determine the currency). Non‑euro Member States may convert the EUR 750,000,000 threshold using the exchange rate of 21 December 2021 and may adjust by up to 5% to obtain a round national amount; thresholds in Articles 48b(4) and (5) are converted for relevant third countries using the same rate and rounded to the nearest thousand. The report must state whether it was prepared in accordance with paragraph 2 or paragraph 3 of Article 48b.