The EU Council Directive 2018/822 (DAC6) regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements. DAC6 aims at transparency and fairness in taxation by imposing mandatory disclosure requirements for certain arrangements with an EU cross-border element where the arrangements fall within certain "hallmarks" mentioned in the Directive and in certain instances where the main or expected benefit of the arrangement is a tax advantage.
Where the first step in a reportable cross-border arrangement is implemented between 25 June 2018 and 30 June 2020, the arrangement should be reported by 31 August 2020. As the DAC6 implementation deadline approaches, several Member States have issued draft DAC6 legislation while some others have already passed their DAC6 laws. Therefore, it is already necessary to monitor the developments on national DAC6 implementation. For this purpose, we have prepared this digital newsletter to keep you updated on DAC6 developments in Europe.
