International tax rules are complex and are constantly evolving and the last few years have seen the introduction of new tougher reporting rules and stronger enforcement. With an ever-changing landscape it can often seem difficult to know where to start and what you need to do to stay compliant. However, not understanding your tax position locally and in foreign territories you do business in can lead to serious repercussions.
The introduction of DAC6 in relation to cross border tax arrangements seeks to implement transparency and fairness in taxation. Applicable to cross border tax arrangements which satisfy certain criteria and either more than one EU jurisdiction or an EU jurisdiction and a non EU jurisdiction.
If the cross border tax arrangement is in scope and satisfies the criteria it can create a reporting obligation. Not complying with DAC6 could lead to serious sanctions and reputational risks for businesses and individuals.
We can help you ensure you stay compliant locally and that all tax compliance obligations are known and fulfilled. If you are interested in having an initial consultation to discuss your business requirements, contact us using the form below and we will reach out to schedule a call as soon as possible. If you require more technical information, we can arrange for a local expert to be on the call.