Mike Lane and Zoe Andrews (Slaughter and May) provide your monthly update on tax developments affecting the City.
DAC 6
Delay to reporting deadlines
The news that the UK reporting deadlines for DAC 6 have been delayed by six months will be welcomed by intermediaries such as lawyers accountants and financial institutions and (in some cases) taxpayers currently grappling with a review of cross-border transactions between 25 June 2018 and 30 June 2020 to determine what is reportable for this look-back period. Such reports are now due by 28 February 2021 instead of by 31 August 2020.
From 1 July 2020 the focus should be on real-time evaluation of transactions although the start of the 30-day period for reporting of arrangements whose reporting trigger is activated between 1 July 2020 and 31 December 2020 is also postponed until ...
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Mike Lane and Zoe Andrews (Slaughter and May) provide your monthly update on tax developments affecting the City.
DAC 6
Delay to reporting deadlines
The news that the UK reporting deadlines for DAC 6 have been delayed by six months will be welcomed by intermediaries such as lawyers accountants and financial institutions and (in some cases) taxpayers currently grappling with a review of cross-border transactions between 25 June 2018 and 30 June 2020 to determine what is reportable for this look-back period. Such reports are now due by 28 February 2021 instead of by 31 August 2020.
From 1 July 2020 the focus should be on real-time evaluation of transactions although the start of the 30-day period for reporting of arrangements whose reporting trigger is activated between 1 July 2020 and 31 December 2020 is also postponed until ...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
