Reporting requirements according to DAC6
The EU reporting requirements under DAC6 impose an obligation to disclose cross-border tax arrangements that meet certain hallmarks. A tax advantage is not always required. The tax administrations of the EU member states will exchange the disclosed information with each other as part of the mandatory automated information exchange procedure.
Violations of the reporting obligation can lead to sanctions and reputational risks.
DAC6 is a new compliance challenge for advisors and companies. They must ensure that arrangements are identified, analyzed and reported to the tax authorities within the 30-day reporting period. When analyzing arrangements and preparing the reports, national requirements and particularities must be taken into account. To avoid multiple reports, it may be necessary to coordinate disclosure among different parties (e.g. intermediaries).
Our solution: DAC6 Smart Reporting 2.0
With DAC6 Smart Reporting 2.0, you can efficiently manage and document your DAC6 compliance across the EU. A dedicated workflow guides you through all relevant phases of the DAC6 compliance process and facilitates collaboration within the company and with your advisors. The tool supports, among other things:
- the identification, documentation and dashboarding of cross-border arrangements relevant for your organization
- the reportability analysis of arrangements, taking into account national particularities
- the creation of DAC6 reports (XML)
- the coordination of different involved parties or more complex projects
- a workflow for centrally or decentrally organized groups
- Structured from the logging of the arrangement to the documentation of the reporting
- Transparent through tool-generated audit trail and integrated coordination functions
- Securely hosted in the EU
Upon request, you can receive further information on:
- Data security
- Price options
- and much more
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