EU adopts Mandatory Disclosure Rules
The Netherlands, ’s-Hertogenbosch – September 13, 2019
Are you ready to know whether or what you (as intermediary or MNE) are required to disclose on cross-border tax related arrangements where you are involved in and/or advising on the full, partial or only on a single action / step?
Seventeen countries (Austria, Cyprus, the Czech Republic, Denmark, Finland, France, Germany, Italy, Lithuania, Luxembourg, the Netherlands, Portugal, Slovakia, Slovenia, Spain, Sweden and the United Kingdom) have approved or published draft legislation for consultation or are discussing proposals within their Ministries of Finance. The remaining ten Member States are expected to publish draft bills later in the course of this year, most likely after the summer recess or the conclusion of local elections.
Relevant deadlines to keep in mind:
– 31 Dec 2019: enactment legislation in all member states
– 31 Aug 2020: report arrangements implemented between 25-Jun-2018 – 30-Jun-2020
– 01 Sep 2020: reporting events occurring within 30 days
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