Mandatory disclosure, or DAC6 as it's commonly known, is the
requirement for the reporting of European transactions or
arrangements which are defined as 'tax aggressive'. Ciara
Smith, Head of Regulatory Compliance Services, discusses who you
can prepare ahead of the upcoming regulation coming in.
Firstly, the basics
WHY
Strengthen tax transparency and EU cooperation to address
aggressive tax planning. Each Member State will automatically
exchange the information to the competent authorities of all other
Member States through a centralised database.
WHAT
Any transaction between two countries (where at least one is in
the EU) and it meets specific criteria which have been specified as
indicating aggressive tax planning.
