The European Commission has published a Proposal for a COUNCIL DIRECTIVE amending Directive 2011/16/EU to address the urgent need for deferring certain time limits for the filing and exchange of information in the field of taxation due to the COVID-19 pandemic. The proposed rules of the directive include a deferral of the filing and exchange of information on reportable financial accounts and the new DAC6 requirements for reportable cross-border arrangements. In particular, the proposed rule…