On 25 June 2018, the most recent amendments to the Directive on administrative cooperation in the field of taxation (Directive 2018/822 of 25 May 2018, i.e. “DAC6”) entered into force. These changes introduced mandatory disclosure requirements for intermediaries and taxpayers.
EU member states have until 31 December 2019 to implement the new rules, which will be applicable from 1 July 2020. However, intermediaries and relevant taxpayers will also be required to disclose information on reportable cross-border arrangements, the first step of which was implemented from 25 June 2018.
Here are some examples of how Swiss companies could be affected by these new rules:
Swiss trading company
Let KPMG’s knowledgeable team help your organization navigate through the DAC6 requirements. Our services include:
We can provide training sessions on the DAC6 requirements, tailored to the specific requirements of your organization.
It’s important to understand the potential impact of DAC6 on your organization. Our detailed assessment includes an in-depth analysis of products and transactions (both in-house and with regard to clients) that could be in scope, as well as a comparison of the detailed requirements across affected jurisdictions.
Policies and processes
Once the impact of DAC6 on your organization has been determined, we can assist you in establishing appropriate policies, setting up processes accordingly and implementing required mechanisms for ongoing monitoring and potential reporting.
KPMG MDR Processor
KPMG has developed the KPMG MDR Processor to optimize MDR processes. With reporting features for all EU countries, this tool supports efficient workflow management to identify your reportable arrangements.