On 13 March 2018, EU finance ministers reached agreement on transparency requirements for tax intermediaries. The proposal (so called DAC6) is the latest of a number of measures designed to prevent corporate tax avoidance. It will require intermediaries such as tax advisors, accountants and lawyers to report tax planning schemes that could be aggressive and member states will be required to share that information automatically.
The Directive will enter into force on the twentieth day following the date of its publication and the first reportable transactions will be those where the first implementation step occurs between that date and 1 July 2020 (the date of application of the Directive) – this could be within the next few months.
We refer to a PwC EUDTG newsletter in this respect, which you can read here.
For more insights and to understand the implications for your organisation, please contact Pieter Deré.