On 22 October 2019, the Cyprus tax authority (the CTA) invited public comments until 12 November 2019 on a draft bill implementing the EU Directive on the mandatory disclosure and exchange of reportable cross-border arrangements, also known as DAC6.
The draft bill closely follows DAC6 without any notable deviations and without
providing much clarification. Many of the questions which remain open when reading DAC6 are still unclear even after the release of the draft bill. The CTA are expected to release further guidance in the first-half of 2020 on the application of the Cyprus DAC6 rules in practice.
