consolidated financial statements — the financial statements prepared by a parent undertaking of a group, in which the assets, liabilities, equity, income and expenses are presented as those of a single economic entity (2)

standalone undertaking — an undertaking which is not part of a group as defined in Article 2, point (11). 2. For the purposes of Article 48b of this Directive, “revenue” has the same meaning as: (a) “net turnover”, for undertakings governed by the law of a Member State that do not apply international accounting standards adopted on the basis of Regulation (EC) No 1606/2002; or (b) “revenue” as defined by or within the meaning of the financial reporting framework on the basis of which the financial statements are prepared, for other undertakings. Article 48b Undertakings and branches required to report on income tax information 1. Member States shall require ultimate parent undertakings governed by their national laws, where the consolidated revenue on their balance sheet date exceeded for each of the last two consecutive financial years a total of EUR 750000000, as reflected in their consolidated financial statements, to draw up, publish and make accessible a report on income tax information as regards the latter of those two consecutive financial years. Member States shall provide for an ultimate parent undertaking to no longer be subject to the reporting obligations set out in the first subparagraph… (2)

tax jurisdiction — a State or non-State jurisdiction which has fiscal autonomy in respect of corporate income tax (2)

ultimate parent undertaking — an undertaking which draws up the consolidated financial statements of the largest body of undertakings (2)