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DAC6 and the Challenges Arising from Its Disclosure Obligation

DAC6 and the Challenges Arising from Its Disclosure Obligation Directive 2018/822 (‘DAC6’) aims at ensuring the exchange of information between Member States of potentially tax-aggressive arrangements. To do so, the European legislator has entrusted intermediaries across the European Union with the task of gathering and reporting a number of potentially aggressive tax arrangements to improve tax transparency and stifle tax avoidance. Unfortunately, a closer analysis of the text has revealed multiple issues that may threaten the well-functioning of the system and could impede the action of the intermediaries. From missing definitions and a lack of guidance to new concepts in dire need of proper interpretation, intermediaries are left with a daunting task to tackle. Risks of delays and over-disclosure, arising from the inconsistencies and uncertainties left by the text of the instrument, may not only undermine the effectiveness of the reporting obligation, but also that of the rest of the system altogether. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png EC Tax Review Kluwer Law International

DAC6 and the Challenges Arising from Its Disclosure Obligation

EC Tax Review , Volume 30 (1): 16 – Jan 1, 2021
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Publisher
Kluwer Law International
Copyright
Copyright © 2021 Kluwer Law International BV, The Netherlands
ISSN
0928-2750
Publisher site
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Abstract

Directive 2018/822 (‘DAC6’) aims at ensuring the exchange of information between Member States of potentially tax-aggressive arrangements. To do so, the European legislator has entrusted intermediaries across the European Union with the task of gathering and reporting a number of potentially aggressive tax arrangements to improve tax transparency and stifle tax avoidance. Unfortunately, a closer analysis of the text has revealed multiple issues that may threaten the well-functioning of the system and could impede the action of the intermediaries. From missing definitions and a lack of guidance to new concepts in dire need of proper interpretation, intermediaries are left with a daunting task to tackle. Risks of delays and over-disclosure, arising from the inconsistencies and uncertainties left by the text of the instrument, may not only undermine the effectiveness of the reporting obligation, but also that of the rest of the system altogether.

Journal

EC Tax Review – Kluwer Law International

Published: Jan 1, 2021

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