ARTICLE · 24 MARCH 2021

Cyprus Parliament Approves Legislation Implementing DAC6

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On 18 March 2021 the Cyprus Parliament approved the Bill ("Law") amending the Law on Administrative Cooperation in the Field of Taxation (Law 205(I)/2012).

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Chrysilios Pelekanos

Andreas Andronicou

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In brief

On 18 March 2021 the Cyprus Parliament approved the Bill ("Law") amending the Law on Administrative Cooperation in the Field of Taxation (Law 205(I)/2012), implementing Council Directives (EU) 2018/822 of 25 May 2018 and 2020/876 of 24 June 2020 on the mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements ("DAC6").

In detail

Cyprus Parliament approved legislation implementing DAC6

On 18 March 2021, the Cyprus Parliament approved the draft Bill amending the Law on Administrative Cooperation in the Field of Taxation, implementing DAC6.

Once the Law is published in the Government Gazette of the Republic of Cyprus, it will be in force and will have a retroactive effect, capturing reportable cross-border arrangements made on or after 25 June 2018.

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