Category Archives: Events

Upcoming webinar: OECD’s Mandatory Disclosure Rules (MDR) – What you need to know

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The OECD’s BEPS 12 is a set of principles around Mandatory Disclosure Regimes. To date, the OECD has only developed model rules around Common Reporting Standards (CRS) avoidance and opaque structures. EU member states have implemented OECD’s BEPS 12 through DAC6. The UK announced that as part of the Brexit agreement, they would be transitioning from DAC6 to international rules and introducing their own UK MDR.

MDR has been implemented in non-EU member states such as Gibraltar, Mexico and Argentina, with more countries expected to follow suit. In our next webinar, we will help attendees come to terms with MDR and what it means for your organisation.

The webinar will cover:

  • What is MDR?
  • What will the UK’s MDR look like?
  • How has MDR been implemented around the world?
  • Which other non-EU countries are set to implement MDR?
  • What is reporting best practice?

When registering, feel free to submit any questions you may have using the space provided in the registration form.

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On-demand webinar: DAC6 is here — What now?

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Register for our DAC6 email updates

As of 1 January 2020, all “intermediaries” involved in cross-border arrangements in an EU member state that meet certain hallmark categories are required to begin reporting those arrangements. Some businesses are fully compliant with DAC6 while others have only recently started preparing. VinciWorks has implemented DAC6 reporting systems for over 40 firms, including seven of the top ten UK firms.

During this webinar, our experts explored best practice for reporting, regardless of where you are in this challenging compliance process. We also answered attendee questions.

The webinar will cover:

  • What to do if you just found out about DAC6
  • How different countries are implementing DAC6
  • The UK’s mandatory disclosure regime
  • Best practice for reporting in multiple jurisdictions
  • Answering attendee questions

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Upcoming anti-bribery webinar with international bribery and corruption experts

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Wednesday 3 February, 12:00pm (UK)

The legal, ethical and reputational risk of bribery is real. Billions in fines are levied every year and frequent reports of investigations and prosecutions from regulating authorities across the world hit the headlines.

We are delighted to be joined by Head of the OECD’s Anti-Corruption Division Patrick Moulette and Transparency International’s Global Business Integrity Programme Lead Britta Niemeyer.

These leading international bribery and corruption experts will discuss the challenges businesses face in building a strong anti-bribery and corruption programme in 2021, and give their insights into how businesses can best fight bribery.

The webinar will cover:

  • Major anti-corruption and bribery cases and what we can learn
  • The impact COVID-19 has had on anti-bribery and corruption
  • The industries most vulnerable to bribery and corruption
  • Guidance for whistleblowers and how they are handled by authorities
  • Anti-bribery training requirements and best practice
  • Answering attendee questions

Free registration

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HMRC joins VinciWorks in DAC6 webinar – Listen now

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Register for our DAC6 email updates

Unexpectedly, and despite comments to the contrary, the UK has decided to implement its own MDR regime. Until this happens, DAC6 still applies in the UK for Hallmark D. Considering that the UK has been a leader in the fight against corruption and tax evasion, its version of MDR will possibly be broader and even more stringent.

It was an honour to host James Marshall of HMRC to discuss the UK’s changes to DAC6 post Brexit.

The webinar covered:

  • What changed with DAC6 in the UK?
  • How do these changes affect DAC6 reporting?
  • How will Omnitrack adapt to these changes?
  • What are the UK’s longer-term plans for MDR?
  • Answering attendee questions

A recording of the webinar is available as a podcast. You can listen to it in Apple Podcasts, Spotify etc. or directly by clicking on the button below.

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On-demand webinar: DAC6 – The non-legal perspective

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Wednesday 25 November, 12:00pm (UK)

How does DAC6 affect banks, investment houses, accounting firms, multinationals, and taxpayers?

DAC6 is a European directive aimed at reducing international tax evasion and promoting transparency. It requires any company that serves as an “intermediary” to a cross-border tax arrangement to assess that arrangement and report it to the tax authorities in some situations.

DAC6 potentially creates a significant compliance burden for companies that are party to a cross-border transaction, even if their role seems incidental. Many investment funds and banks, as well as multi-national corporations, will be exposed to liability under DAC6.

In this webinar, VinciWorks’ DAC6 experts gave guidance on what the Directive means for businesses and how businesses with and without in-house legal teams are managing the DAC6 process and reporting.

During the webinar we covered:

  • What is DAC6 and how does it apply to different industries?
  • What is a proportionate approach to DAC6?
  • Who is responsible for DAC6 reporting?
  • When should a DAC6 report be made?
  • Do you need to manage your professional advisors’ DAC6 reporting?
  • Should staff be trained on DAC6?
  • Do you need a reporting tool?

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On-demand webinar: DAC6 reporting — Your questions answered

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DAC6 has now been in force for over three months, with intermediaries and businesses in Germany already having to report historical transactions.

Over the past 18 months, VinciWorks has consulted with international law firms, accounting firms, corporate compliance teams and tax authorities to help them grapple with the Directive and develop best-practice for DAC6. Our webinars, core group meetings and face-to-face interactions have drawn questions covering main benefit tests, reporting in Germany, understanding hallmarks, how DAC6 affects non-legal sectors and several other aspects of the Directive.

During this webinar, we gave attendees the opportunity to have their questions answered by our Legal and Research Executive Ruth Mittelmann Cohen and Director of Best Practice Gary Yantin.

DAC6 Q&A – key topics covered

  • What does the DAC6 reporting delay mean?
  • How specific countries, such as Germany, Poland and the UK, are implementing DAC6
  • Updating reports after they have been submitting
  • Instances when reporting is the obligation of the taxpayer rather than the intermediary
  • Best practice for reporting in multiple jurisdictions

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VinciWorks hosts fourth DAC6 Core Group Meeting – Summary

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On Wednesday, 9 September, 2020, around 200 people joined VinciWorks for its fourth DAC6 Core Group meeting. This was a continuation of our third core group meeting held at Freshfields Bruckhaus Deringer’s London office earlier in 2020. In light of COVID-19, this fourth meeting was held virtually; however, audience participation was encouraged and this was not “just another webinar”.

VinciWorks have close relationships with various tax authorities across the EU, and we were joined at our meeting by James Marshall from HMRC, and Valérie Robbertz and Willem-Jan van Veen from the Netherlands Tax and Customs Administration (NTCA).

Below is an overview of some of the key questions that were discussed in the meeting.

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Upcoming Event – Fourth DAC6 Core Group Meeting

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Wednesday 9 September, 12:00–15:00 (BST)

DAC6 is a European directive aimed at reducing international tax evasion and promoting transparency. It requires lawyers, accountants, tax advisers, bankers and other “intermediaries” to report some aggressive cross-border tax arrangements. Multinational businesses might also be required to report transactions in circumstances where no external intermediary is able to report. These “mandatory disclosure requirements” (MDR) are for tax transactions that cross EU borders, where it seems that the primary purpose of the transaction is a tax advantage.

Over the last 18 months, VinciWorks has brought together over 100 international law and accounting firms to help firms grapple with the Directive and develop best-practice for DAC6.

We are now hosting our fourth DAC6 Core Group meeting on Wednesday, 9 September 2020, 12:00–15:00 (BST) via Zoom.

The agenda includes an open Q&A session with James Marshall, HMRC’s DAC6 policy lead, and an international panel including Willem-Jan van Veen and Valérie Robbertz from the Netherlands Tax and Customs Administration.

The virtual meeting will also include case studies from firms that have already implemented a DAC6 reporting system, and an update on reporting across EU member states.

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On-demand webinar: DAC6 reporting solution – Feature updates

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Wednesday, 29 July, 12pm UK time

In March, we hosted a live demo of our reporting solution where we covered the core features of our DAC6 reporting software. Since then, the system has evolved to help businesses solve all the challenges presented by the complex Directive. Even if you have seen a demo of the product in the past, now is the time to get up-to-date with the implementation process.

Here are just some of the updates we have made:

  • Enhanced workflow with country-by-country guidance
  • Ability to report in multiple jurisdictions
  • New graphical customisable dashboards

In this webinar, we covered the core features of our software, new features that have recently been added and give guidance on how businesses can use it to report transactions. This webinar is suitable for both those who have attended previous demos and those who are less familiar with our system.

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On-demand webinar: DAC6 for multinationals – An overview of VinciWorks’ DAC6 reporting solution

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Register for our DAC6 email updates

Any company that undertakes international tax arrangements could be affected by DAC6. Reports may be made by professional advisers, known as “intermediaries”, that advise on the arrangements, but where an arrangement is organised in-house or the intermediary cannot report for another reason, the responsibility falls on the taxpayer to file their own report.

VinciWorks has been in close consultation with HMRC, other tax regulators and over 100 leading international firms to establish the implications of the EU Directive and build a reporting solution to help businesses comply.

In this webinar, we covered the core features of our software and shared guidance on how international businesses can use it to report and track transactions.

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