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The DAC6 filing deadline is extended by 6 months

The DAC6 filing deadline is extended by 6 months

The Danish Tax Authorities have just announced that they have chosen to defer the reporting deadlines under DAC6 (MDR) by 6 months, in line with the recommendation of the EU Commission.

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Extension of the DAC6 filing deadline

In June 2018, a new EU directive came into force, introducing mandatory disclosure rules (DAC6) for intermediaries and relevant taxpayers. These new rules require the disclosure of information on qualifying cross-border arrangements to local tax authorities. The information reported will be exchanged between EU Member States.

Originally, EU Member States had until 31 December 2019 to implement the new rules, which were supposed to be applicable from 1 July 2020. However, the Danish Tax Authorities have just announced that they have chosen to defer the reporting deadlines under DAC6 (MDR) by 6 months, in line with the recommendation of the EU Commission. Read more here.

This means that the following deadlines will apply:

  • Reportable cross-border arrangements of the transitional period (i.e. where the first step of implementation is made between 25 June 2018 and 30 June 2020) must be reported by 28 February 2021 at the latest;
  • The kick-off date of the 30-days reporting period starts on 1 January 2021.

Our recommendations

In the light of this announcement, we recommend that companies focus on identifying and preparing their reporting of the historical arrangements, whilst setting up an effective process to identify reportable arrangements on an ongoing basis for the future.

Additionally, companies need to assess the impact on reporting obligations of jurisdictions that are not implementing a deferral period.

If you have any questions to the new rules or the process, do not hesitate to contact:

 

Partner, Corporate Tax, Søren Dalby

Partner, Corporate Tax, Birgitte Tandrup

Senior Manager, Corporate Tax, Michael Fonsmark

Manager, Corporate Tax, Simon Tornø Olesen

 

Click on the picture below to sign up for KPMG's webcast "EU Mandatory Disclosure Rules – an update on state of play" on the 6th of July 2020. 

© 2020 KPMG Acor Tax, a Danish limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

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