DAC6 Cyprus: Reporting deadline extended, yet again - VinciWorks

DAC6 Cyprus: Reporting deadline extended, yet again

The Ministry of Finance at the Cypriot Tax Department have announced they will be extending the deadline for reporting DAC6 arrangements to 30th November 2021.

This extension will apply to all retroactive reporting dating back to 25 June 2018.

The deadline has been extended for all the following cases:

Reportable cross-border arrangements that have been made between 25 June 2018 and 30 June 2020
Reportable cross-border arrangements that had been made between 1 July 2020 and 31 December 2020 that required submission within 30 days.
Reportable cross-border arrangements made between 1 January 2021 and 31 August 2021 that required submission within 30 days.

VinciWorks is constantly monitoring DAC6 amendments made by the tax authorities, ensuring that schemas remain up to date, and adding additional reporting XMLs as they become available inside the Omnitrack system.

Click here to find out more about VinciWorks’ award winning DAC6 product.

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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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.