This represents the latest development in a series of EU initiatives involving automatic exchange of information. Under these rules, intermediaries and taxpayers have an obligation to report certain cross-border arrangements which involve one or more of a list of specified hallmarks.
MDR is likely to be a key challenge for businesses, and will present a significant compliance burden for groups dealing cross-border with differing requirements in EU Member States. KPMG globally have developed a software tool to assist clients in managing the compliance burden, providing an audit trail and reporting capabilities across the relevant jurisdictions.
More information regarding MDR is set out in the summary overview below.
Please contact us if you would like to discuss the details around MDR further or to arrange a demo of our MDR software tool.