Publication in the EU’s official journal is expected imminently.
The ECOFIN council have approved the EU Directive requiring intermediaries and taxpayers to disclose information on certain cross border arrangements involving an EU Member State. The publication of the new EU Mandatory Disclosure rules, also known as DAC 6, is expected to follow in the official journal in the next few days. This means that reportable transactions implemented within 20 days of the date of the publication are expected to be affected. As a reminder, we do not expect Brexit to affect the introduction of these rules for the UK, and it is important for taxpayers to understand how they may be affected.
For a reminder of the details of the rules, please see our previous article. You can also listen to the recording of a webcast hosted by KPMG’s Global Financial Services Tax practice in conjunction with our EU Tax Centre, which covers the detail of the rules and what this could mean for your business.
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