The EU’s Posted Workers Directive aims to ensure that employees sent (or “posted”) from one EU country to another are granted the same working conditions as local employees. It creates a significant compliance burden for employers in the EU that regularly send employees to other EU countries.

In this webinar,we helped attendees understand the extent to which they are impacted by PWD and what they need to do to comply.

The webinar covered:

  • The background and history of PWD
  • What is a posted worker?
  • Who is affected by PWD?
  • How is PWD implemented and enforced?
  • The extent to which the UK is affected by the Directive in light of Brexit
  • What is reporting best practice?

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The webinar is also available to listen to as a podcast.

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The Criminal Finances Act and other global legislation have placed anti-tax evasion measures on the corporate risk and compliance agenda. The past year has shown us that tax evasion enforcement is only ramping up. Increased investigations, large fines and new laws have demonstrated that there has never been a more important time to ensure that everyone in your organisation is on board with your compliance programme.

In this webinar, our experts explored the impact of tax evasion regulations over the past few years and shared best-practice guidance on compliance.

The webinar covered:

  • Why it’s important to have a strong compliance program
  • Reasonable procedures: do you have them and are they enough?
  • Best-practice guidance on spotting red flags
  • An international perspective on tax evasion, including DAC6
  • Major tax evasion cases and what we can learn
  • Tax evasion training requirements and best practice

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The webinar is also available to listen to as a podcast.

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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 this webinar, we helped attendees come to terms with MDR and what it means for your organisation.

The webinar covered:

  • 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?

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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 were 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 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 covered:

  • 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

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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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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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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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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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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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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.

Free registration

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