On 17 December 2019, Malta published Cooperation with Other Jurisdictions on Tax Matters (Amendment) Regulations 2019 through Legal Notice 342 of 2019. The Amendments transpose the provisions of Council Directive 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border tax arrangements (DAC6).
The reporting requirement primarily applies to intermediaries that design, market, organize, or manage the implementation of a reportable arrangement, but may also apply to taxpayers in certain cases, such as when the intermediary is subject to confidentiality obligations or where a taxpayer has designed an arrangement without external intermediaries. The draft law also establishes penalties for reporting incomplete or false information. The Regulations will be applicable from 1 July 2020. Intermediaries and relevant taxpayers are required to collect the relevant information in connection with reportable cross-border arrangements whose first step was implemented on or after 25 June 2018.
