On 1 March 2021, the Irish Revenue published an eBrief No. 014/21 regarding EU mandatory disclosure of reportable cross-border arrangements. On the similar day, the Revenue also published a Tax and Duty Manual, providing guidance to update the DAC6 reporting arrangements.

The guidance on the specified information reporting requirements has been updated as follows:

  • The practice of allowing an intermediary not to disclose information about a person to whom they made a reportable cross-border arrangement available, where the person indicated that they would not be proceeding with it, has been removed.
  • Further detail has been issued on the required disclosure standard in respect of the following specified information:
    • the summary of the content  of the cross border arrangement,
    • the national provisions forming the basis of the cross border arrangement, and
    • Member State(s) likely to be concerned by an arrangement.

Further guidance has also been issued on the following topics:

  • The meaning of “may  reasonably expect” in the application of the Main Benefit Test.
  • The meaning of “knows or could be reasonably expected to know” in the context of a whether a secondary intermediary has a reporting obligation.

A more detailed summary of the material updates is included in Appendix V to the TDM.