On 7 April 2021, the Spanish Official Gazette published the Royal Decree No. 243/2021, amending the general regulation on the mandatory automatic exchange of financial account information (AEOI) in relation to reportable cross-border arrangements (DAC6). The primary law for implementing the DAC6 requirements was published on 30 December 2020 with few rules and regulation. The latest decree is provided details rules and procedures including- taxpayers and intermediaries’ obligation to provide cross-border tax arrangements; explaining signs of aggressive tax planning; implementing a requirement for taxpayers to provide cross-border transactions within 30 days; and introducing two additional information declaration obligations.
The decree entered into force on 8 April 2021.
