This site uses cookies. and this alert will appear once and then not again.

How should business respond to the new EU Mandatory Disclosure Regime?

We’re now a few months in to the transitional period for the new EU Mandatory Disclosure Regime. These rules kicked in on 25 June this year and broadly require businesses or their advisors to report cross border arrangements which fall within certain hallmarks to the tax authorities. So how are businesses responding to the obligations placed on them under the rules? And what are some of the challenges?

European Commission's feedback to the questions raised by EU Member States in respect of DAC6

On 24 September 2018, EU Member States dedicated the entire meeting of the European Commission (EC)’s Working Party IV to seeking more clarity from the EC concerning the interpretation of Council Directive 2018/822/EU of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements (commonly referred to as DAC6).

Video: Dealing with the EU Mandatory Disclosure Rules

Video: Dealing with the EU Mandatory Disclosure Rules

The EU has published new EU mandatory disclosure rules. These rules require disclosure to tax authorities of cross-border arrangements entered into by taxpayers which fall within certain broadly-defined hallmarks. We can help businesses to understand the impact of these rules, undertaking risk assessments to focus resource and create a single digital record of all reportable transactions. Watch this video to find out more.

Poland: Mandatory disclosure rules effective from 1 January 2019

New Polish legislation implementing EU mandatory disclosure rules (MDR) introduced by DAC6* will be effective from 1 January 2019 (18 months earlier than required under DAC6). The Polish legislation is much broader than DAC6, applying to both cross-border and domestic arrangements, and covering a wider range of taxes. There will be significant fines for failure to report or other non-compliance with the MDR. Anyone undertaking transactions involving Poland should consider the impact of the new rules.