Following a proposal put forward by the European Commission, new mandatory disclosure requirements were introduced as an amendment to DAC 6 and will apply fully from July 1, 2020. The amendments will however have some retroactive effect from June 25, 2018.
Following a proposal put forward by the European Commission, new mandatory disclosure requirements were introduced as an amendment to the Directive on Administrative Cooperation in the Field of Taxation (“DAC 6”) and will apply fully from July 1, 2020. The amendments will however have some retroactive effect from June 25, 2018.
DAC 6 introduces an obligation on intermediaries to disclose information on cross-border arrangements that meet certain criteria to their domestic tax authorities and rules for the subsequent exchange of this information between tax administrations. Intermediaries and relevant taxpayers will also be required to disclose information on reportable cross-border arrangements, of which the first step is (to be) implemented between June 25, 2018 and July 1, 2020. This information should be filed by August 31, 2020, and must therefore be monitored already.
Please refer to the KPMG Summary and Observations memo (PDF) for further details about the scope of the directive.
The Swedish draft proposal SOU 2018:91 (PDF) is subject to public consultation until April 24, 2019. See a summary in English at page 27-34. The draft proposal includes that the scope of the reporting obligation is to be extended compared to DAC 6 to include certain domestic arrangements. We are happy to assist you if you want to provide input or comments on the draft Swedish MDR-legislation.
Please read more about the implementation of the new rules into Swedish legislation and other Member States’ domestic legislation to date and the state of play at the level of the EU institutions here.
KPMG’s EU Tax Centre is working to develop an MDR technology solution that will assist interested organizations in assessing, tracking and reporting potentially reportable cross-border arrangements. Especially, this tool will be of interest for organizations that are at risk to be seen as intermediaries themselves.
Do not hesitate to contact us if you are interested in more information about the proposed rules, the Swedish public consultation process or KPMG's MDR technology solution.
+46 40 35 62 46
+46 8 723 61 88