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EU Mandatory Disclosure Rules (MDRs/ DAC6)

On 25 June 2018, the new mandatory disclosure rules (MDRs) for qualifying intermediaries and relevant taxpayers entered into force in the European Union (EU). In short, under Council Directive (EU) 2018/822 (commonly referred to as “DAC6”), as of 1 July 2020, EU-based intermediaries or — in some cases, taxpayers, are required to disclose to their tax authorities information on reportable cross-border arrangements within 30 days from a defined reporting trigger. According to the original reporting timeline, the deadline for reporting cross-border arrangements, the first step of which was implemented between 25 June 2018, and 1 July 2020, was 31 August 2020.

On 3 June 2020, the Council formally adopted an amendment to DAC6 allowing member states an option to defer by up to six months the time limits for the filing and exchange of information under the original DAC6. Most EU Member States opted for a six-month deferral of reporting deadlines, with the notable exceptions of Austria (three-month extension), Finland and Germany (no deferral).

This summary report provides an overview, as of 20 April 2021, of status of DAC6 implementation into domestic law, including relevant dates, availability of local guidance (albeit evolving and therefore potentially subject to change) and reporting options, as well as general information on the application of the waiver for legal professional privilege. Please note that the data presented is of a general nature and subject to change.