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ARTICLE · 12 JUNE 2020

DAC6 Reporting Obligation Deferred By 6 Months

ELVINGER HOSS PRUSSEN, société anonyme
Explore more from ELVINGER HOSS PRUSSEN, société anonyme

As previously mentioned in our article dated 8 May 2020, the European Commission has tabled a proposal for a Council Directive amending Directive 2011/16/EU allowing the deferral of certain time limits for filing and exchanging ...

LuxembourgFinance and Banking
Elvinger Hoss Prussen
Elvinger Hoss Prussen

As previously mentioned in our article dated 8 May 2020, the European Commission has tabled a proposal for a Council Directive amending Directive 2011/16/EU allowing the deferral of certain time limits for filing and exchanging information on financial accounts under Directive 2014/107/EU (i.e. so called "DAC2"/CRS) and on reportable cross-border arrangements under Directive 2018/822/EU (i.e. so called "DAC6") in consideration of the disruptions caused by the Covid-19 crisis.

This proposal, however, required further discussion at EU level. 

Finally, on June 3, 2020, Member State representatives on Coreper (the Permanent Representatives Committee) reached political agreement for an optional six-month deferral of reporting deadlines under DAC6.

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