The Mandatory Disclosure Requirements (MDR)’ or DAC6 directive for intermediaries and relevant taxpayers’ applies as of 1 July 2020, with retroactive effect. Yet, not all EU Member States have transposed the new reporting rules into domestic law and many are still to publish detailed implementation guidelines. The European Union is giving EU Member States the option to defer DAC6 reporting deadlines by up to six months, which most EU countries have opted for. This is a deferral of the reporting deadlines only and the 1 July application date remains unchanged.
Divergence in interpretation and, potentially, in reporting timelines across jurisdictions will create many challenges for organizations that have an extensive European footprint and need to navigate the MDR maze. In this uncertain environment, it is vital that local implementation of the rules and reporting deadlines continues to be actively monitored by potentially impacted groups.
This webcast explored the evolving landscape of DAC6. The panel of KPMG experts shared their insights on the latest developments on EU MDRs, including on likely changes to the reporting timeline and recent guidance in a selection of European jurisdictions.
Presenters include: Chris Scott, KPMG EMA Region Head of Tax & Legal Services, Raluca Enache, Director, KPMG’s EU Tax Center, Carmel Logan, Partner, KPMG in Ireland; Claus Jochimsen, Partner, Head of International Tax, KPMG in Germany; Janette Wilkinson, Tax Partner, KPMG in the UK; Michał Niżnik, Tax Partner, KPMG in Poland and Robert van der Jagt, Chairman, KPMG’s EU Tax Center.