Tax reporting and DAC 6: UK moves from EU to international rules
In an entirely unexpected but welcome move, the UK has disapplied the majority of the hallmarks in Directive 2018/822/EU as part of the EU exit package. This has a number of implications for the reporting of cross-border tax arrangements, but DAC 6 remains a key compliance issue. It will be a while before a steady state is reached and until that happens there is still plenty to think about. Brexit may be "done" but DAC 6 continues to evolve and to surprise.
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This article first appeared in the January/February 2021 issue of PLC Magazine.