DAC6 requirement to report transactions
Under DAC6, special entities, known as intermediaries, must log certain cross-border transactions which may have a tax implication and where necessary report these to local tax authorities. They should therefore start registering and keeping track of all cross-border transactions. VinciWorks' DAC6 reporting solution allows intermediaries to record all cross-border transactions while guiding them on which transactions require reporting. It is recommended that intermediaries complete DAC6 training to gain a clear understanding of their reporting obligations under DAC6.