DAC 6 TIME DEADLINE EXTENSION FOR REPORTABLE CROSS-BORDER ARRANGEMENTS
By: Costas Indianou & Co | Date: Nicosia, February 4th, 2021
DAC 6 TIME DEADLINE EXTENSION FOR REPORTABLE CROSS-BORDER ARRANGEMENTS (RCBAs) & UPCOMING DOMESTIC LAW
A time deadline extension to 31rst March 2021 has been provided under the following situations:
- RCBAs made between 25 June 2018 and 30 June 2020 and were previously under the obligation to be submitted by 28 February 2021.
- RCBAs made between 1 July 2020 and 31 December 2020 and were previously under the obligation to be submitted by 31 January 2021.
- RCBAs made between 1 January 2021 and 28 February 2021, that were previously under the obligation to be submitted within 30 days from the date they were made available or were ready for implementation or the first step in the implementation was made, whichever occurred first.
- RCBAs for which secondary intermediaries provided advice, aid, legal assistance, or advice, between 1 January 2021 and 28 February 2021 and were previously under the obligation to submit information within 30 days beginning on the day after they provided advice, aid, legal assistance or advice.
Furthermore, the Cyprus Tax Department informed on February 3rd, 2021, that the EU DAC 6 Council Directive 22/2018 should be transposed into domestic legislation within the current month.
