On 5 June, 2018, the amended directive on administrative cooperation in the field of taxation (DAC 6), which introduces new mandatory disclosure rules for intermediaries, was published in the Official Journal of the European Union. It will enter into force on 25 June, 2018.
Member States are required to adopt and publish the laws, regulations, and administrative provisions necessary to comply with the directive by 31 December, 2019 at the latest. The provisions will apply from 1 July, 2020.
However, Member States must also take the necessary steps to require intermediaries and relevant taxpayers to disclose information on cross-border arrangements, the first step of which was implemented between its entry into force (25 June, 2018) and its date of application (1 July, 2020). Information on these reportable arrangements will have to be reported by 31 August, 2020.
KPMG Luxembourg comments
The date of entry into force is particularly important as the directive will be effective from that date. In other words, despite the July 2020 application date and the first reports being due only in August 2020, intermediaries and relevant taxpayers will be required to file information on reportable cross-border arrangements taking place on or after 25 June, 2018. Thus, it may be worth considering collecting the necessary information as early as that date—which is later this month.
We remain at your disposal to answer any questions you may have.
Any tax advice in this communication is not intended or written by KPMG to be used, and cannot be used, by a client or any other person or entity for the purpose of (i) avoiding penalties that may be imposed on any taxpayer or (ii) promoting, marketing, or recommending to another party any matters addressed herein.The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity.
Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
© 2021 KPMG Luxembourg, Société coopérative, a Luxembourg entity and a member firm of the KPMG network of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.