DAC6 in Germany: Partial reporting just got even more complicated - VinciWorks

DAC6 in Germany: Partial reporting just got even more complicated

Bundestag — Germany is one of a handful of EU member states that did not defer DAC6 reporting in light of COVID-19

The German tax authority has confirmed to VinciWorks in line with their latest edition of the DAC6 Communication Manual that they will no longer be accepting partial reports in certain cases where legal professional privilege applies. Instead, the taxpayer will be expected to make a complete report.

Reports for non-marketable arrangements will (contra legem) no longer be accepted by the German tax authority. For such arrangements, where there is only one relevant taxpayer and where the intermediary has not been released from their confidentiality obligations, the intermediary cannot report only “arrangement-related” information. In this case, the relevant taxpayer will have to report a complete disclosure.

The following options are currently available for reporting non-marketable tax arrangements:

A complete disclosure is made by the relevant taxpayer.
The relevant taxpayer releases the intermediary from Legal professional privilege and the intermediary makes the report.

The legal obligation to file a partial report in cases of marketable arrangements still exists.

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

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James

VinciWorks CEO, VInciWorks

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How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

How are you managing your GDPR compliance requirements?

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.

GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.