Due to coronavirus outbreak, the European Commission has recently agreed to delay the entry into force of certain European Union (EU) taxation measures. Among these is the delay of Council Directive 2018/822, commonly known as the Directive on Administrative Cooperation 6 (DAC6). The rules under DAC 6 are set to become applicable on July 1, 2020, with mandatory reporting requirements initially due in August 2020. However, the EC recently agreed to a six-month delay of the initial reporting deadlines as a result of COVID-19.
On 7 July 2020, the Government opened a public consultation on a draft guidance implementing the European Union (EU) Directive on the mandatory disclosure and exchange of cross-border tax arrangements (DAC6). The due date for public consultation is 14 July 2020. The guide provides for a six-month deferral to the reporting deadlines under DAC6 following the adoption on 24 June 2020 by the Council of the EU of amendments to the Directive.
