Cyprus Notice Regarding DAC6 Reporting

Cyprus Notice Regarding DAC6 Reporting

On July 27, 2020, the Cyprus Tax Department issued a notice stating that, in accordance with the amendments made to the DAC6 Directive for the initial deferral of DAC6 reporting on cross-border agreements, the provision of DAC6 information is being extended as follows:

1. Information on reporting measures taken in the period from June 25, 2018 to June 30, 2020, must be provided by February 28, 2021;
2. Information on reporting activities performed in the period from July 1, 2020 to December 31, 2020 must be provided within 30 days, starting from January 1, 2021;
3. Information on reporting agreements concluded from January 1, 2021 must be provided within 30 days from the date when the agreement becomes available for implementation, is ready for implementation, or the first step is taken to implement it, depending on what will happen earlier;
4. The first periodic report on market agreements is due on April 30, 2021.

   The notice also states that further guidance on the application of the DAC6 Directive and how the information is provided will be published later.

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