GRI 207-4 — Country-by-country reporting

Disclosure focus

This disclosure asks an organisation to explain its tax position on a country-by-country basis, rather than only at group level. In practice, that means showing where the organisation operates and how its tax-related activity is spread across those jurisdictions, so readers can see the geographic pattern of its tax footprint and not just a single consolidated figure.

The practical focus is on coverage across the full organisation, not just a few flagship sites or major markets. The report should be broad enough to reflect the countries where the organisation has a material presence, so stakeholders can understand how tax is distributed across operations and where the organisation’s reporting is complete or limited.

Before you start

A quick mental checklist before you prepare this disclosure — tick each as you settle it.

Have you fixed which tax locations are in scope, using the entities that sit inside the audited group accounts or the public filing set?
For each location, have you settled the reporting period and the cut-off dates so every figure comes from the same time window?
Can you trace each number back to a source record, and do you know which items need a note where the reported figure does not match the audited accounts or public filing?
Have you agreed how to count staff in each location, and is that method written down so the headcount is built the same way throughout?
Do you know which local figures need to be shown for each place — sales to outside customers, internal sales to other locations, tax charge, tax paid, profit or loss, and fixed assets excluding cash?
Have you identified the local business name and main activity for each resident entity, and are the tax terms you use consistent with your organisation’s own records and definitions?

Preparation

Key datapoints to prepare

Datapoint	What to capture	Evidence hint	Owner
Reconciliation note	A plain explanation for any gap between the tax data reported here and the figures in the audited group accounts or other public financial filing.	Tie-out schedule to the audited consolidated financial statements or filed public accounts, with a written explanation for each difference.	Tax reporting
Resident tax locations	Every tax country or territory where the entities in the audited group accounts, or in the public financial filing, are tax resident.	Group structure chart, legal entity register and tax residency schedule aligned to the consolidated reporting perimeter.	Tax reporting
Tax country	The specific country or territory used for tax residency for the entity being reported.	Legal entity tax file, residency certificate or tax registration record.	Tax reporting
Resident entity names	The legal names of the entities that are tax resident in the stated jurisdiction.	Legal entity register and tax residency schedule.	Tax reporting
Main business activities	A short description of what the organisation mainly does in that tax jurisdiction.	Management reporting, local entity profiles and business descriptions used in statutory filings.	Tax reporting
Employee count	The number of employees for the reporting basis used in this disclosure, as defined by the organisation’s chosen method.	HRIS headcount report or payroll extract, with the counting method documented and dated.	HR / People analytics
Counting method	A clear description of how the employee number was calculated, including the population and counting rule used.	Method note showing the source system, inclusion rules and any exclusions.	HR / People analytics
External sales revenue	Revenue earned from sales to customers outside the group for the tax jurisdiction.	Local ledger, management accounts and revenue mapping to external customer sales.	Finance
Tax expense accrued	The corporate income tax charge recognised on profit or loss for the period in that jurisdiction.	Tax provision workings, current tax journal entries and the tax note in the financial statements.	Tax reporting
Intercompany revenue	Revenue from sales between group entities that involve other tax jurisdictions.	Intercompany billing records, transfer pricing reports and local ledger extracts.	Finance
Pre-tax result	The profit or loss figure before income tax for the period in the relevant jurisdiction.	Local statutory accounts, management accounts or tax provision bridge to pre-tax profit/loss.	Finance
Non-cash assets	The value of tangible assets in the jurisdiction, excluding cash and cash equivalents.	Fixed asset register and local balance sheet, with cash balances removed from the total.	Finance / Fixed assets
Cash tax paid	Corporate income tax actually paid in cash during the period for the jurisdiction.	Tax payment confirmations, bank statements and cash tax ledger entries.	Tax / Treasury
Tax difference explanation	A short explanation of why the tax charge differs from applying the statutory rate to pre-tax profit or loss.	Tax reconciliation working paper showing the main drivers and supporting schedules.	Tax reporting
Period start date	The first date covered by the information reported for this disclosure.	Reporting calendar, consolidation timetable or disclosure pack cover sheet.	Reporting / Finance
Period end date	The last date covered by the information reported for this disclosure.	Reporting calendar, consolidation timetable or disclosure pack cover sheet.	Reporting / Finance

Show GRI 207-4 sub-elements (LRA working checklist)

List every tax territory where the group’s entities are tax-resident, using the audited consolidated accounts or the public filing as the source.
State how you worked out the employee count.
Show corporate income tax charged against profit or loss.
Show corporate income tax actually paid in cash.
If the figures for the listed items do not tie back to the audited consolidated accounts or the public filing, explain why.
Give the names of the resident entities.
State the number of employees.
Describe the organisation’s main activities.
State profit or loss before tax.
Explain why tax charged on profit or loss differs from the amount that would result from applying the statutory rate to profit or loss before tax.
Show revenue from transactions within the group with other tax territories.
Show revenue from sales to external customers.
Show tangible assets excluding cash and cash equivalents.
Identify the tax territory.
State the reporting period start date.
State the reporting period end date.

LRA working checklist - paraphrased; see official source

How to prepare

Set the reporting window first. Confirm the opening and closing dates for the period you are covering, and use that same window consistently across the disclosure.
Fix the population you will report on. List every tax country where entities in the audited group accounts, or the publicly filed financial information, are tax resident.
Define the data fields and the basis behind them. For each country, capture the resident entities, the business activities, employee count and how that headcount was worked out, plus the financial measures needed for the disclosure.
Gather source evidence for each figure and narrative point. Pull the amounts, descriptions and supporting records from the group accounts, public filings and internal tax or finance workings so each reported item can be traced back.
Prepare the explanation notes where needed. If any reported tax figure for the specified items does not tie to the audited group accounts or the public filing, write a clear reason for the gap; also explain why the tax charge differs from the amount implied by applying the statutory rate to profit before tax.
Check the final pack against the official source before sign-off. Make sure the reported period, country list, entity names, activities, headcount basis, financial amounts and any difference explanations are complete, and record any exclusions or changes in method so the submission is transparent.

Request the country-by-country tax pack

Translate the disclosure into an internal business question — then adapt it to your organisation's own language.

Can you provide the country-level tax and operating data for the reporting period, with a clear explanation for any differences against the group accounts or public filing figures?

Use your organisation’s own labels first (for example, legal entity, country, branch, market, statutory accounts, management accounts, tax provision, cash tax). Then map those terms to the reporting disclosure fields before sign-off. This is a possible LRA training template; adapt it to your organisation and check the source disclosure before sign-off.

Weak request

Please provide the country-by-country disclosure data for GRI 207-4, including all required metrics and explanations.

Why it fails: It uses framework language only, so the owner has to translate the ask from scratch. It does not say which internal files, systems, labels, or tie-out points are needed, and it gives no clue about the period, scope, or how to explain mismatches.

Better request

Please send the country-level tax pack for [period] for the entities in scope of the group accounts / public filing set. Use your normal finance or tax labels, and include a mapping note if your terms differ from the reporting table. We need the location, entity names, main activity, employee count and method, external and intercompany sales, profit before tax, tangible operating assets excluding cash, cash tax paid, tax accrued, and any explanation for differences against the group accounts or filed figures, plus the source file and dates covered.

Formal email template

Subject: Request for country-level tax and operating data for [period]

Hello [name],

We are preparing the sustainability reporting pack and need the country-level tax and operating data for [period] for the entities in scope of the group accounts / public filing set.

Please send a completed table covering each tax location in scope, with the following for each row:
- tax location label
- entity name(s)
- main activities
- employee count and the counting basis used
- external sales
- intercompany sales with other tax locations
- profit or loss before tax
- tangible operating assets excluding cash and cash equivalents
- cash tax paid
- tax accrued on profit or loss
- any explanation needed where the figures do not tie to the group accounts or public filing figures
- the start and end dates covered by the data

Please also include the source system or file used, the reporting basis, and any assumptions or exclusions.

If you use different internal terms, please keep your wording and add a short mapping note so we can align it to the reporting table.

This is a possible LRA training template; adapt it to your organisation and check the source disclosure before sign-off.

Many thanks,
[preparer name]

Short Teams / Slack version

Hi [name] — could you send the country-level tax pack for [period] for the in-scope entities? Please include: location, entity names, main activity, employee count + method, external sales, intercompany sales, profit before tax, tangible assets excl. cash, cash tax paid, tax accrued, and any tie-out notes to group accounts / filed figures. Add source file/system and the dates covered. Please use your own internal terms and add a quick mapping note. Thanks.

Industry examples

Manufacturing

Context. A group with factories, sales offices, and shared service centres across several countries.

Adapted request. Please provide the country-level tax pack for [period] for each in-scope legal entity and operating site. Use your usual finance labels for plant, office, and shared service locations, and add a mapping note. Include employee count and method, external sales, intercompany sales, profit before tax, tangible operating assets excluding cash, cash tax paid, tax accrued, and any tie-out notes to the group accounts.

Example response. A table by country showing each legal entity, site type, headcount basis, sales split, profit before tax, tangible assets excluding cash, cash tax paid, tax accrued, source system, and a note explaining that one country’s tax accrued differs because a local adjustment was booked after the group close.

Retail

Context. A group with trading subsidiaries, warehouse entities, and a central buying company.

Adapted request. Please send the country-level tax and operating data for [period] for the trading, warehouse, and central entities in scope. Use your internal labels for store, warehouse, and head office entities, and map them to the reporting table. Include employee count and basis, external sales, intercompany sales, profit before tax, tangible operating assets excluding cash, cash tax paid, tax accrued, and any explanation for differences to the filed figures.

Example response. A country table listing each entity, activity type, employee basis, external and intercompany sales, profit before tax, tangible assets excluding cash, cash tax paid, tax accrued, and a note that one jurisdiction’s figures differ from the filed accounts because a dormant entity was included in the filing set but had no trading activity.

The full request pack — response form, data table, evidence metadata and sign-off — is in the Download Centre.

Draft your disclosure

LRA training templates — adapt them to your organisation, and check the official source before sign-off.

Method note

State which entities are included, which tax locations they are treated as resident in, and the basis used for counting employees, sales, profit or loss, tax accrued, tax paid, and tangible assets so readers can see how each figure was built.

Context note

Explain what the figures show about where the group operates, where value is generated, and how the tax charge and cash tax compare with profit before tax across the jurisdictions reported.

Fluctuation statement

If any year-on-year movement is notable, point to the business or tax drivers behind it, such as changes in entity residence, headcount, sales mix, profits, asset base, or timing differences between tax accrued and tax paid.

Content index entry

GRI 207-4 Country-by-country reporting — [location / page] / [notes]

Download Centre

Professional preparation tools and forms for GRI 207-4. Each download includes a concise “How to use” guide.

XLSPrep & Assurance workbookDatapoints + per-datapoint risk, evidence to check, owner & evidence pack XLSData-request packTax / Finance request — email & message templates, response form, sign-off & industry examples PDFLibrary CardPrintable summary (PDF)

Assurance readiness

For each claim, check the evidence

Claim	Risk	Evidence to check
I reconciled the tax figures to the audited group accounts or the public filing, and I explained any gap where the numbers do not tie back exactly.	Assurer checks whether the mismatch is real, whether the explanation is complete, and whether the reported figures were adjusted or simply presented differently without support.	Reconciliation schedule between the disclosure and the audited accounts/public filing; working papers showing the source of each figure; written explanation for each difference; review notes from finance or tax sign-off.
I built the list of resident jurisdictions from the entities included in the audited group accounts or the public filing, and I checked that no resident location was left out.	Assurer probes completeness of the entity population, whether any excluded entity should have been in scope, and whether residency was determined consistently.	Entity register or consolidation perimeter; tax residency mapping by entity; group structure chart; evidence of review against the audited accounts/public filing; sign-off on the final jurisdiction list.
I used the local tax residence status for each included entity, based on the underlying records we held at the reporting date.	Assurer checks whether the residence label is correct for each entity and whether the basis used was applied consistently across the group.	Tax residence certificates or equivalent records; legal entity files; internal mapping showing how residence was assigned; dated source documents used for each entity.
I listed the resident entities using the legal names recorded in our group records, and I checked those names against the consolidation file before publication.	Assurer probes whether entity names are current, whether trading names were used in error, and whether any entity in scope was omitted or duplicated.	Legal entity register; consolidation pack; company registry extracts where relevant; final disclosure draft with reviewer comments; approval trail.
I described the organisation’s main lines of business using the same internal reporting basis that fed the rest of the disclosure.	Assurer checks whether the activity description matches the group’s actual operations and whether it was prepared on a consistent basis with the other reported data.	Management reporting pack; segment or business-unit descriptions; board or annual report narrative; internal review showing alignment between the activity summary and the reported figures.
I counted employees using the method we applied for this report, and I kept the calculation note so the figure can be traced back.	Assurer probes whether the headcount basis was applied consistently, whether the population counted matches the stated method, and whether the figure is reproducible.	Headcount methodology note; payroll or HR extracts; calculation workbook; cut-off date evidence; reviewer sign-off on the counting basis.

Evidence pack to prepare

The governing policy or written commitment behind this disclosure
A methodology / definition note setting out how the disclosure was scoped and prepared
Source-system exports the figures or facts were drawn from
The internal approval / sign-off record for the disclosure before publication
Minutes or records evidencing the relevant engagement or consultation

Common reporting gaps

Figures are stated without the supporting narrative, or narrative without figures.
Scope is inconsistent between the text and the numbers.
The reporting boundary is left undefined.
Material changes since the previous period are not disclosed.
Estimates and measured values are not distinguished.
Source records for the figures are not identified.

Mistakes to avoid when collecting the data

Wrong data owner
The team asks finance, tax, or local country leads in the wrong sequence and ends up chasing the person who can explain the figures rather than the person who holds the source records.
Framework terms, not business terms
The request is written in disclosure language instead of the organisation’s own labels, so the data owner cannot map it cleanly to the ledger, payroll, or entity list they actually use.
Unclear reporting boundary
The collector does not pin down which entities and jurisdictions sit inside the reporting set, so some resident entities are left out while others are counted twice.
Wrong reporting period
The data pull uses a different cut-off from the period covered by the disclosure pack, which makes the country figures and the supporting accounts impossible to line up.
Mixed counting basis
Headcount, tax, and revenue are gathered on different bases without noting the method for each field, so the numbers cannot be compared consistently across jurisdictions.
Source labels stripped out
The original names from the ledger, tax file, or local report are replaced too early, which makes it hard to trace each figure back to the record it came from.
Separate populations merged
Resident entities, intra-group flows, and third-party sales are rolled into one extract even though they need to stay distinct for the country schedule.
Missing evidence trail
The pack is saved without the supporting file names, dates, and version notes, so no one can show where each figure came from or who checked it.
No sign-off record
The draft moves forward without a clear approval trail from the people who prepared and reviewed the data, leaving no proof that the numbers were checked before use.

Where judgement is often needed

Set the group perimeter after a buy-in or sale
Decide which entities sit inside the reporting group for the period, and explain any change in the country list or figures caused by a takeover, disposal, or other perimeter shift.
Choose one country label where local definitions differ
If a place is described differently in local records, map it to one tax location for the report and explain the basis used so the same entity is not split or double-counted.
Handle entities that sit near the reporting boundary
For branches, dormant companies, or other close-call entities, state whether they are included with the relevant country or left out, and explain the rule used to make that call.
Fix the reporting date basis and keep it consistent
Use one cut-off point for the country table and explain if any figures come from a different timing basis, especially where local systems close on different dates.
Decide when to use actual figures and when to estimate
Where country data is incomplete, choose between measured amounts and reasonable estimates, then explain which lines are estimated and how that affects the totals.
State how employee counts are built
Explain whether headcount, average staff, or another internal method sits behind the employee number, and keep the same basis across countries unless a change is clearly described.
Explain how local accounting differences are bridged
If country figures are prepared under different local rules or ledgers, describe the adjustments used so the country table can be compared back to the group accounts or public filing.
Round figures in a consistent way
Apply one rounding approach across all countries and lines, and note it if rounding means the country totals do not exactly add up to the group total.
Aggregate where naming a unit would expose sensitive data
If naming a resident entity would create a privacy or confidentiality issue, combine it with other entities in the same country and explain the level of grouping used.

Examples

Illustrative examples

Synthetic, written by LRA — not from a company report, not text from any standard.

UK retail and distribution · synthetic · written by LRA

Synthetic example only: we set out the tax places linked to our group companies, the activities they carry out, and the key figures for each place. Where the tax figures do not tie exactly to the audited group accounts, we explain the main cause of the gap below.

Use this as a pattern for a jurisdiction-by-jurisdiction breakdown. Keep the explanation for any mismatch brief but specific, and make sure the figures can be traced across the table.

Renewable energy and utilities · synthetic · written by LRA

Synthetic example only: we present the resident group companies by tax place, the work they do, and the main tax and operating figures. The difference between tax accrued and tax paid is explained because the cash figure and the accounting figure do not match exactly in this illustration.

Use this as a second pattern for a capital-intensive group. If the tax charge and cash tax differ from the amount implied by the local rate, say why in plain language and keep the explanation tied to the numbers shown.

Draft output & visualisation ideas

How to turn the collected data into a draft disclosure. Suggested visuals and a GRI content-index line generated from this disclosure's datapoints.

Suggested visuals

Resident entities by tax location — table: A jurisdiction-by-jurisdiction list of the group entities that are tax resident there, alongside their names and main business activities.
People and sales mix by tax jurisdiction — stacked bar: For each tax jurisdiction, a split of employee count, third-party sales, and intra-group sales to show the scale and mix of activity.
Tax charge, cash tax and profit before tax — bar: A side-by-side comparison of pre-tax profit or loss, tax accrued in the period, and tax paid in cash for each jurisdiction or for the group total.
Assets and tax footprint by jurisdiction — bar: A comparison of tangible assets held in each tax jurisdiction, excluding cash and cash equivalents, to help show where the group’s physical presence sits.
Difference between expected and reported tax — table: A concise explanation of why the tax charge differs from a simple statutory-rate calculation on pre-tax profit or loss, including the main reconciling items.
Reconciliation check against published accounts — table: A note showing whether the tax figures tie back to the audited consolidated accounts or filed public financial information, and if not, the reason for the gap.

From a number to a disclosure

What separates a figure from a disclosure.

Basic

For 2025, I reported £12.0m of sales in one tax jurisdiction.

Better

For 2025, I reported £12.0m of external sales, £3.0m of group sales, 40 staff on a full-time equivalent basis, and £1.2m of tax charged in one tax jurisdiction.

Best

For 2025, I reported £12.0m of external sales, £3.0m of group sales, 40 staff on a full-time equivalent basis, £1.2m of tax charged, and £0.9m paid in cash across one tax jurisdiction, and I explained that the gap to the tax charge mainly reflects timing differences and local reliefs.

From company reports

Real published reports Compare side by side →Get it free

Real reports where this topic is disclosed. The confidence label shows how closely each match maps to GRI 207-4 — these are report practice, not exact disclosure examples.

Company

Sector · Country

Year

Match

Page

Report

Assurance

ERG S.p.A.

Electric Utilities / IPP / Energy Traders · Italy

2025

Partial

p. 186 →p. 52 →p. 130 →

ERG Integrated Report 2025 →

ey

Evidence in ERG S.p.A.’s report

What the report shows

ERG S.p.A.'s Integrated Report 2025 includes reported monetary values related to tax liabilities and provisions for disposed businesses, specifically noted on page 222. The report also references financial statements and directors’ reports with independent auditor statements on page 305, indicating some level of assurance. However, there is no clear or quotable narrative or detailed methodology found in the report regarding other specific disclosure items, and several expected narrative and numeric datapoints are missing or unclear.

Evidence-based summary of this company’s own report — not a disclosure template to copy, and not a compliance verdict.

Datapoint coverage

Datapoint	Status	Page
Reconciliation noteA reported value was found on this page.	covered	p. 305
Resident tax locationsNo quotable evidence was found in this report.	not found	—
Tax countryNo quotable evidence was found in this report.	not found	—
Resident entity namesNo quotable evidence was found in this report.	not found	—
Main business activitiesNo quotable evidence was found in this report.	not found	—
Employee countNo quotable evidence was found in this report.	not found	—
Counting methodNo quotable evidence was found (methodology/narrative).	unclear	—
External sales revenueNo quotable evidence was found in this report.	not found	—
Tax expense accruedA reported value was found on this page.	covered	p. 222
Intercompany revenueNo quotable evidence was found in this report.	not found	—
Pre-tax resultNo quotable evidence was found in this report.	not found	—
Non-cash assetsNo quotable evidence was found in this report.	not found	—
Cash tax paidNo quotable evidence was found in this report.	not found	—
Tax difference explanationNo quotable evidence was found in this report.	not found	—
Period start dateNo quotable evidence was found in this report.	not found	—
Period end dateNo quotable evidence was found in this report.	not found	—

Source trail

p. 305financial statements Directors’ report Consolidated financial statements Integrated Annual Report 2025 305 5 ERG Group Independent auditors
p. 225financial statements Directors’ report Consolidated financial statements 1 Business in the process of being sold as described
p. 330financial statements Directors’ report Consolidated financial statements NOTE 14 – CONTINGENT LIABILITIES AND DISPUTES ERG is a party
p. 278financial statements Directors’ report Consolidated financial statements NOTE 42 - CURRENT TAX ASSETS AND LIABILITIES 31/12/2025
p. 222tax liabilities 43 215,251 219,000 Provision for disposed businesses 26 8 2,315 82,349 Provision
p. 301financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis

Endesa, S.A.

Electric Utilities / IPP / Energy Traders · Spain

2025

Partial

p. 373 →p. 375 →p. 383 →

Endesa Consolidated Annual Report 2025 →

BSI

Evidence in Endesa, S.A.’s report

What the report shows

Endesa, S.A.'s 2025 Consolidated Annual Report includes some narrative information relevant to the disclosure, notably on page 15 where the Consolidated Financial Statements Audit Report is presented, and on page 559 which details other current financial assets. However, the report lacks quotable evidence for most specific narrative and monetary datapoints related to the disclosure, with no clear methodology or detailed figures found elsewhere. Several expected narrative items and monetary values are not addressed or are unclear, limiting the completeness of the disclosure in this report.

Evidence-based summary of this company’s own report — not a disclosure template to copy, and not a compliance verdict.

Datapoint coverage

Datapoint	Status	Page
Reconciliation noteA reported value was found on this page.	covered	p. 15
Resident tax locationsNo quotable evidence was found in this report.	not found	—
Tax countryNo quotable evidence was found in this report.	not found	—
Resident entity namesNo quotable evidence was found in this report.	not found	—
Main business activitiesNo quotable evidence was found in this report.	not found	—
Employee countNo quotable evidence was found in this report.	not found	—
Counting methodNo quotable evidence was found (methodology/narrative).	unclear	—
External sales revenueNo quotable evidence was found in this report.	not found	—
Tax expense accruedNo quotable evidence was found in this report.	not found	—
Intercompany revenueNo quotable evidence was found in this report.	not found	—
Pre-tax resultNo quotable evidence was found in this report.	not found	—
Non-cash assetsA reported value was found on this page.	covered	p. 559
Cash tax paidNo quotable evidence was found in this report.	not found	—
Tax difference explanationNo quotable evidence was found in this report.	not found	—
Period start dateNo quotable evidence was found in this report.	not found	—
Period end dateNo quotable evidence was found in this report.	not found	—

Source trail

p. 15Consolidated Financial Statements Audit Report LEGAL DOCUMENTATION 2025 ENDESA, S.A. AND SUBSIDIARIES 15 I. Letter to Shareholders and Other Stakeholders II. Consolidated Financial Statements Audit Report III. Sustainability Statement Verification Report IV. Consolidated Management Report V.…
p. 204 (Translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.) Other Information: Consolidated
p. 215 (Translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.) Auditor's Responsibilities for the Audit of the Consolidated Financial Statements Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are…
p. 535irs, maintenance or improvement for significant amounts. LEGAL DOCUMENTATION 2025 ENDESA, S.A. AND SUBSIDIARIES 535 I. Letter to Shareholders and Other Stakeholders II. Consolidated Financial Statements Audit Report III. Sustainability Statement Verification Report IV. Consolidated Management Report V.…
p. 13515. Regulatory Framework Information on the regulatory framework is provided in Note 6 to the Consolidated Financial Statements
p. 28926. Social Information I. Letter to Shareholders and Other Stakeholders II. Consolidated Financial Statements Audit Report III. Sustainability Statement Verification Report IV. Consolidated Management Report V. Consolidated Financial Statements VI. Statement of Responsibility LEGAL DOCUMENTATION…
p. 119Information on the main investments is included in Notes 21.1, 23 and 24.1 to the Consolidated Financial Statements
p. 213results are used to gain a better understanding of the LEGAL DOCUMENTATION 2025 ENDESA, S.A. AND SUBSIDIARIES 213 I. Letter to Shareholders and Other Stakeholders II. Consolidated Financial Statements Audit Report III. Sustainability Statement Verification Report IV. Consolidated Management Report V.…
p. 55931. Other current financial assets On 31 December 2025 and 2024, the breakdown of this heading in the accompanying
p. 145IV. CONSOLIDATED MANAGEMENT REPORT Outlook I. Letter to Shareholders and Other Stakeholders II. Consolidated Financial Statements Audit Report III. Sustainability Statement Verification Report IV. Consolidated Management Report V. Consolidated Financial Statements VI. Statement of Responsibility…
p. 47IV. CONSOLIDATED MANAGEMENT REPORT Corporate governance I. Letter to Shareholders and Other Stakeholders II. Consolidated Financial Statements Audit Report III. Sustainability Statement Verification Report IV. Consolidated Management Report V. Consolidated Financial Statements VI. Statement of…

JSW Steel Limited

Mining — Iron, Aluminum, Other Metals · India

2025

Partial

p. 109 →p. 106 →p. 8 →

Integrated Annual Report FY 2024-25 →

EY; BSI; Bureau Veritas

Evidence in JSW Steel Limited’s report

What the report shows

JSW Steel Limited’s Integrated Annual Report FY 2024-25 includes some narrative related to financial statements and unaudited financial information for two subsidiaries, as noted on page 273. The report also references the audit of consolidated financial statements and responsibilities of auditors and joint ventures on pages 272 to 274. However, there is no quotable evidence found in the report for specific narrative items, numeric values, or monetary values related to the disclosure, and the methodology or detailed narrative remains unclear.

Evidence-based summary of this company’s own report — not a disclosure template to copy, and not a compliance verdict.

Datapoint coverage

Datapoint	Status	Page
Reconciliation noteA reported value was found on this page.	covered	p. 273
Resident tax locationsNo quotable evidence was found in this report.	not found	—
Tax countryNo quotable evidence was found in this report.	not found	—
Resident entity namesNo quotable evidence was found in this report.	not found	—
Main business activitiesNo quotable evidence was found in this report.	not found	—
Employee countNo quotable evidence was found in this report.	not found	—
Counting methodNo quotable evidence was found (methodology/narrative).	unclear	—
External sales revenueNo quotable evidence was found in this report.	not found	—
Tax expense accruedNo quotable evidence was found in this report.	not found	—
Intercompany revenueNo quotable evidence was found in this report.	not found	—
Pre-tax resultNo quotable evidence was found in this report.	not found	—
Non-cash assetsNo quotable evidence was found in this report.	not found	—
Cash tax paidNo quotable evidence was found in this report.	not found	—
Tax difference explanationNo quotable evidence was found in this report.	not found	—
Period start dateNo quotable evidence was found in this report.	not found	—
Period end dateNo quotable evidence was found in this report.	not found	—

Source trail

p. 273financial statements and other unaudited financial information in respect of 2 subsidiaries, whose financial statements and other
p. 272INTEGRATED REPORT 2024-25 540 JSW STEEL INTEGRATED REPORT 2024-25 541 BACK TO TOP FINANCIAL STATEMENTS CONSOLIDATED
p. 274financial statements and the other financial information of subsidiaries, associates and joint ventures, as noted in the ‘other
p. 272INDEPENDENT AUDITOR’S REPORT To the Members of JSW Steel Limited Report on the Audit of the Consolidated Financial
p. 274financial statements have been audited under the Act have represented to us and the other auditors of such subsidiaries
p. 273and joint ventures are also responsible for overseeing the financial reporting process of their respective companies. Auditor’s Responsibilities
p. 272reported by them in their audit reports furnished to us by the management, including those procedures performed to address the matters

Check your understanding

A group has subsidiaries in three tax locations. In one location, the local ledger shows £12 million of sales to outside customers and £3 million of sales to other group entities, but the consolidated pack only shows the outside-customer figure.Should the country table include both revenue figures for that location, and if the group uses only the outside-customer number in the published report, what should the preparer do about the mismatch?

Model answer. Yes. The location-level table should show both the external sales figure and the amount from dealings with other group entities, because both are part of the country breakdown. If the published country data does not tie to the audited group statements or to filed public financial information, the preparer should add a clear explanation of why the figures differ, rather than leaving the gap unexplained.

Why this matters. Where country data and the audited or filed numbers do not line up, the report needs a plain explanation of the difference.

A preparer is building the country schedule for a year ending 31 December 2025. One subsidiary moved its tax residence from one jurisdiction to another during the year, and the finance team is unsure whether to list both places or only the year-end location.How should the preparer decide which tax locations to include, and what supporting details belong with each location entry?

Model answer. The schedule should cover every tax location where entities in the audited group accounts, or in public-filed financial information, are treated as resident for tax purposes during the reporting period. For each location, the preparer should identify the jurisdiction itself, name the resident entities, and describe the group’s main activities there.

Why this matters. The country list is built from tax residence, and each location entry needs both the place and the entities and activities linked to it.

In one jurisdiction, the payroll system counts 48 full-time staff and 6 part-time staff, while the HR dashboard shows 51 people on an average-headcount basis. The tax reporting pack also includes a note that the figure is based on year-end headcount.Which employee figure should be used in the country table, and what extra explanation should accompany it?

Model answer. The preparer should use one employee number for the jurisdiction and make the counting basis explicit alongside it. If the organisation has chosen a year-end headcount approach, that basis should be stated; if it has used an average or another method, that method should be stated instead. The key point is that the number is not enough on its own without the counting rule behind it.

Why this matters. A headcount figure only makes sense when the counting method is shown with it.

For a tax jurisdiction with profit before tax of £20 million, the tax team calculates current tax accrued of £4 million, but the amount that would arise by applying the local statutory rate to profit before tax is £5 million. The difference is driven by a tax incentive and a non-deductible expense.What should the preparer explain in the country table, and what should they avoid doing?

Model answer. The preparer should give a short explanation of why the accrued tax amount is different from the amount that would result from applying the local headline rate to profit before tax. In this case, the explanation can point to the incentive and the non-deductible item, because those are the reasons for the gap. They should not leave the difference as a bare number with no narrative, and they should not try to force the figures to appear identical when they are not.

Why this matters. When current tax and a simple rate-on-profit calculation diverge, the report should explain the drivers of the gap.

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Related framework references

How this disclosure maps across the major reporting frameworks.

GRIPrimary

GRI 207-4

within GRI 207: Tax 2019

Open official source →

→

ESRSRelated

ESRS G1

Business Conduct — closest topical match (post-Omnibus ESRS catalogue).

→

IFRSNo equivalent

—

No direct IFRS S1/S2 topical equivalent.

Related & explore

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Questions this page answers

How do I use the GRI 207-4 Tax page to prepare the disclosure from scratch?

Start with the plain-language explainer and the step-by-step ‘how to prepare’ section, then work through the listed datapoints and the draft-output section. The page is designed to help you move from source data to a draft disclosure, not just to describe the topic. ↑ section

What data do I need to collect for GRI 207-4 Tax before I start drafting?

The page lists the datapoints to prepare, including the reconciliation note, tax locations, resident entity names, business activities, employee count, revenue, tax figures, cash tax paid, and the period start and end dates. Use that list as your collection checklist so you can build the disclosure from complete inputs. ↑ section

How should I decide the scope for the GRI 207-4 Tax data set?

Use the page’s datapoint list and the reconciliation note to define which entities, locations, and figures are in scope for the disclosure. The page also points you to the period start and end dates, so your scope should match the reporting period you are using. ↑ section

Who should own the GRI 207-4 Tax inputs in practice?

The page is aimed at sustainability/ESG managers, HR or data owners, and assurance reviewers, so ownership usually needs to sit with the people who hold the underlying tax, finance, and entity data. The workbook and evidence-pack sections are there to help those owners provide a usable, reviewable set of inputs. ↑ section

What should I put in the evidence pack for GRI 207-4 Tax assurance?

The page includes an evidence pack with five items and six assurance claims to verify, so the pack should support each claim with traceable evidence. Use the assurance section to check that the evidence matches the claim, the risk, and the source material before you finalise the draft. ↑ section

What are the most common mistakes people make when drafting GRI 207-4 Tax?

The page has a section on common reporting gaps and mistakes, which is the best place to check for avoidable issues before you publish. In practice, use it as a final review against your collected datapoints, the reconciliation note, and the evidence pack. ↑ section

How do I use the Prep & Assurance workbook for GRI 207-4 Tax?

The Download Centre includes a Prep & Assurance workbook in .xlsx format, which is intended to support data collection and assurance readiness. Use it alongside the step-by-step guidance to organise the inputs, track evidence, and turn the data into a draft. ↑ section

What can I use the printable Library Card for on GRI 207-4 Tax?

The Download Centre also provides a printable Library Card in .pdf format, which is useful as a quick reference while you gather data and review the draft. It sits alongside the workbook, so you can use one for working papers and the other for a concise check-list style view. ↑ section

How do I turn the GRI 207-4 Tax data into a draft disclosure?

The page has a draft-output section with visualisation ideas, narrative starters, and a GRI content-index line to help you shape the final wording. Use the synthetic example disclosures as a model for how the data can be presented, then adapt it to your own figures and explanation. ↑ section

Can I reuse GRI 207-4 Tax data for ESRS G1 Business Conduct reporting?

The page says the closest ESRS correspondence is ESRS G1 (Business Conduct), so there is a useful cross-framework link. You can treat the data as reusable where it fits your reporting needs, but the page does not say the requirements are identical. ↑ section

Country-by-country reporting

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