Cyprus Consulting on Draft Law for Introduction of Mandatory Disclosure and Exchange of Information on DAC6 Cross-Border Arrangements

The Cyprus Tax Department has launched a public consultation on a draft law that provides for the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning arrangements. This includes measures to require the reporting of cross-border tax planning arrangements and the exchange of information reported with other EU Member States. The reporting requirement primarily applies to intermediaries that design, market, organize, or manage the imp…