Although much attention has been paid to the Organization of Economic Co-Operation and Development’s (OECD’s) country-by-country (CbC) reporting recommendations, they are not the only potential reporting obligations on the horizon that could impact U.S.-based multinational enterprises (MNEs). The European Commission — the European Union’s executive body — is scheduled to release its findings regarding tax transparency in early 2016, which could include public disclosures of information similar to the OECD’s CbC reporting recommendations. If the E.C. and EU countries agree on public disclosure, such precedent might bolster the rhetoric of corporate governance activists and compel U.S.-based MNEs and even the U.S. Treasury to respond to calls for increased tax transparency.