On 18 December 2019, the Dutch Senate approved the draft legislation implementing the European Union (EU) Directive on the mandatory disclosure and exchange of cross-border tax arrangements (DAC6).
The legislation entered into force on 1 January 2020 and will be effective from 1 July 2020, following publication in the Official Gazette on 27 December 2019.
The deadlines for reporting includes:
- reporting between 1 July 2020 and 31 August 2020 on possible avoidance arrangements between 25 June 2018 to 1 July 2020; and
- within 30 days for arrangements from 1 July 2020.
Failing to comply with the requirements may result in fines up the sixth category in the Penal Code for intent or gross negligence, which as of 1 January 2020, is EUR 870,000.
