Sandy Bhogal and Avi Kaye (Gibson, Dunn & Crutcher) explain the extent to which the UK government has curtailed existing reporting obligations.
EU Council Directive 2011/16 as amended (the DAC) requires EU intermediaries (or failing which taxpayers) to report and EU tax authorities to exchange information regarding cross-border arrangements which meet one or more specified characteristics (hallmarks) and which concern at least one EU country. The relevant provisions are commonly referred to as ‘DAC 6’. Regulations implementing DAC 6 reporting obligations into UK law – the International Tax Enforcement (Disclosable Arrangements) Regulations SI 2020/25 (‘the regulations’) – came into force on 1 July 2020.
At the end of the Brexit transition period at 11pm on 31 December 2020 obligations requiring the UK to implement DAC 6 fell away. During the course of last year the UK government had indicated that DAC 6’s...
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Sandy Bhogal and Avi Kaye (Gibson, Dunn & Crutcher) explain the extent to which the UK government has curtailed existing reporting obligations.
EU Council Directive 2011/16 as amended (the DAC) requires EU intermediaries (or failing which taxpayers) to report and EU tax authorities to exchange information regarding cross-border arrangements which meet one or more specified characteristics (hallmarks) and which concern at least one EU country. The relevant provisions are commonly referred to as ‘DAC 6’. Regulations implementing DAC 6 reporting obligations into UK law – the International Tax Enforcement (Disclosable Arrangements) Regulations SI 2020/25 (‘the regulations’) – came into force on 1 July 2020.
At the end of the Brexit transition period at 11pm on 31 December 2020 obligations requiring the UK to implement DAC 6 fell away. During the course of last year the UK government had indicated that DAC 6’s...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
