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.
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:
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
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