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Proposed changes to Ireland’s implementation of DAC6 were announced in the Finance Bill 2020. Some of the relevant changes include:

Additional DAC6 exemptions: DAC6 will no longer apply to fees, such as for certificates and other documents issued by public authorities; and dues of a contractual nature, such as consideration for public utilities.

New intermediary exemptions: An intermediary will be exempt from making a return to the Revenue Commissioners if they receive confirmation that such other intermediary has reported, a copy of the specified information provided to the competent authority or an Arrangement Reference Number. 

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The German tax authority has confirmed in their latest edition of the DAC6 Communication Manual released on 4 December 2020 that they have backtracked on their decision not to accept partial reports in certain cases where legal professional privilege applied to an arrangement. 

The latest update makes it clear that partial reports in cases of both marketable and non-marketable arrangements are now being accepted by the German tax authority.

The previous decision to stop partial reports was not in line with German law that stipulates a partial report should always be made if legal professional privilege applies.

VinciWorks continues to provide direct reporting to the German Tax authorities via its DAC6 reporting software.

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The DAC6 compliance requirements of global businesses vary from country to country. Despite the approaching 1 January deadline, not all EU member states have yet finalised their guidance and additional details, such as legal professional privilege and penalties vary between each state. To help firms save time and money on conducting their own research, VinciWorks has collaborated with Transfer Pricing Services to create a concise country-by-country guide to DAC6 compliance. The guide can be purchased either together with our DAC6 compliance solution or as a standalone tool.

As we near DAC6 reporting beginning in all member states in January, we have been regularly updating the guide.

Latest updates to the DAC6 country-by-country guide

• Updates to the reporting procedure in the jurisdictions that have released further guidance about reporting
• Updates to the guide on the basis of newly released or updated guidance from tax authorities across the EU
• Updates to the timeline for reporting in line with the deferral in light of COVID-19
• Additional appendixes including a summary of risk areas within an organisation for each of the hallmarks and an in-depth analysis of the EBIT test
• Details of the implementation of mandatory disclosure regimes (MDR) in non-EU jurisdictions

Preview the guide

As we draw closer to 1 January 2021, when DAC6 reporting requirements begin across all EU member states, many tax authorities are beginning to make the final preparations for DAC6. VinciWorks is in close contact with tax authorities across the EU. Here is the latest update from HMRC:

Reporting Site: HMRC will be carrying out private Beta testing of its DAC6 reporting site with the hope of opening it up to the public at the end of December. Obviously, the bank holidays around Christmas and New Year will make this challenging as support staff need to be available to help with any difficulties.

Mandatory Reporting Fields: There are some mandatory fields that require reporting in accordance with the UK’s XML Schema that might be problematic to answer as the information is not available at the time of reporting. HMRC is investigating what those fields are in order to provide guidance.