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1st April 2020

Are you affected?

By David Cairns

Tax Partner

Hawsons Chartered Accountants

A NEW regime comes into force on 1 July 2020 called DAC6. What is DAC6? What do you report?

The new DAC6 regime, Disclosure of Cross-Border Tax Arrangements, is a new EU directive which can be used to avoid or evade tax. The directive requires reporting of certain cross-border arrangements and structures.

What must be reported?

Reportable cross-border arrangements from 25 June 2018 to 1 July 2020 must be reported when the legislation becomes effective.