EU intermediaries and, in some cases, taxpayers are required to disclose to the tax authorities information on certain cross-border arrangements. After reporting is complete, an automatic exchange of information will take place between the tax authorities of all EU Member States. An arrangement will be reportable if it qualifies as a cross-border arrangement and if there are indications of a potential risk of tax avoidance, known as “hallmarks”. Some hallmarks will only trigger a reporting obligation if the arrangement also meets what is known as the main benefit test (MBT). The reporting obligation started on 1 January 2021. Reporting under this obligation must be performed within certain deadlines.
Is your transaction reportable? Find out now
Are you an intermediary, a relevant taxpayer, or both? Should you report all of the arrangements you participate in? What information should you give the tax authorities? Whether you are a bank, insurance company, fund management company, multinational enterprise or family office, this survey will help you understand your DAC6 obligations.