On-demand webinar: DAC6 — Understanding tax disclosure requirements

The Economic and Financial Affairs Council of the European Union (ECONFIN) has adopted the 6^th Directive on Administrative Cooperation (“DAC6”), requiring tax intermediaries to report certain cross border arrangements. Under DAC6, intermediaries may be required to submit all cross-border transactions and backdate them when member states publicise their requirements.

In this webinar, Legal and Research Executive Ruth Cohen and Director of Best Practice Gary Yantin helped dissect the new regulation and gave guidance on reporting and training requirements under DAC6.

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The webinar will cover:

The purpose and scope of DAC6
Who is considered an intermediary?
Which transactions require reporting?
An overview of the Hallmarks and related categories
Examples of reportable transactions
Reporting and training requirements under DAC6
Answering any questions from registrants

Ruth Cohen, VinciWorks' Legal and Research Executive — Ruth Cohen, VinciWorks’ Legal and Research Executive

Legal and Research Executive Ruth Cohen holds an LLB specialising in International Commercial Law. Ruth has experience in both the public and private sectors, having consulted for many Fortune 500 companies. She has expert-level knowledge across a wide range of areas including corporate finance, data protection, harassment, information security, commercial law and regulatory compliance, including DAC6.

Gary Yantin, Director of Best Practice at VinciWorks

As Director of Best Practice at VinciWorks, Gary Yantin works with law firms of all sizes to provide the best compliance learning experience for their staff. He was previously an in house lawyer and a solicitor in private practice. Gary has hosted many webinars and workshops for VinciWorks on a wide range of risk and compliance topics including GDPR and the SRA’s new approach to ongoing learning.

DAC6 reporting and training solution

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

VinciWorks has recently released a DAC6 reporting and training solution to help businesses reach full compliance with DAC6. This includes a secure, enterprise-wide data management portal for recording all cross-border tax transactions and two new courses.

DAC6 reporting portal — Record all cross-border tax transactions that may require reporting according to DAC6
DAC6: Fundamentals course — Follow an interactive flow-chart navigation to help establish which transactions you are required to report
DAC6: The Basics course — Interactive training for staff, providing an overview of the key elements of the Directive

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.

“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”