On 20 June 2019, the Spanish Ministry of Finance published the draft bill implementing the (EU) Directive on the mandatory disclosure and exchange of cross-border tax arrangements, also known as DAC6.
Taxpayers should be aware of this new disclosure obligation. In particular, intermediaries like financial institutions, insurance entities and alternative investment funds should adjust or adopt internal procedures to comply with this new obligation.
In addition, taxpayers will be obliged to annually report the use of previously communicated arrangements.
