DAC6 training and reporting tools

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DAC6 training flowchart screenshot
The DAC6 interactive flowchart allows users to gain a clear understanding of which hallmarks and categories they are required to report on

The Economic and Financial Affairs Council of the European Union (ECONFIN) adopted the 6th Directive on Administrative Cooperation (“DAC6”) requiring tax intermediaries to report certain cross border arrangements.

The new EU rules which aim to clamp down on aggressive tax planning are set to impose a huge compliance burden on taxpayers and their advisers, potentially even in circumstances where there is no tax benefit at all.

VinciWorks’ DAC6 course, DAC6: Fundamentals, will help all entities who may be considered tax intermediaries develop an understanding of DAC6. The course follows a flow-chart navigation and includes example scenarios to help users understand DAC6. VinciWorks also offers a DAC6 reporting tool to help intermediaries easily keep track of and report cross-border transactions.

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Poland becomes first country to incorporate DAC6 into local legislation

Polish Parliament
Poland has brought DAC6 into national law well ahead of schedule, meaning some businesses will already have to comply with DAC6

On 25 May 2018, the Economic and Financial Affairs Council of the European Union (ECOFIN) adopted the 6th Directive on Administrative Cooperation (the “DAC6”), requiring so-called tax intermediaries to report certain cross-border arrangements.

The deadline for each EU Member State to transpose the Directive into national law and legislation is 31 December 2019.

On 31 January 2019, Poland’s Finance Ministry (MOF) published a 102-page guidance document on the country’s new tax reporting requirements which apply retroactively from 1 January 2019, and these included the implementation of DAC6. This is earlier than the 1 July 2020 obligation as stipulated in DAC6, therefore anyone dealing with Polish transactions should ensure they have DAC6 reporting measures in place already.

Free download: DAC6 guide to compliance

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DAC6: Will you need to report?

The EU has introduced a new law that imposes mandatory disclosure requirements for certain cross-border transactions. Known as DAC6, the law requires intermediaries to report cross-border tax planning arrangements which involve at least one EU Member State, where the transaction falls into a number of hallmarks. This means businesses will be required to:

  • Monitor cross-border arrangements
  • Assess reportability of arrangements
  • Identify correct tax authority
  • Report arrangements to local tax authority

As the August 2020 reporting deadline approaches, we’re seeing varying degrees of awareness and compliance among firms and intermediaries.

Since most cross-border arrangements have potential tax implications, how are you assessing which ones will require reporting? Are you proactively documenting every single cross-border deal just to be safe? Some firms are requiring lawyers to indicate DAC6 relevant transactions when they open a case file. Others are wondering which deals are relevant, while some are just learning about the reporting requirements.

VinciWorks has designed a DAC6 risk assessment to help intermediaries understand the risk exposure of their cross-border transactions.

Take the DAC6 risk assessment

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