Extension of the period for non-imposition of administrative fines for overdue submission of DAC6 information

Extension of the period for non-imposition of administrative fines for overdue submission of DAC6 information

The Internal Revenue Service (TD) announced that this period of temporary cancellation of administrative penalties for late reporting DAC6 has been extended until September 30, 2021 in the following cases:

• Accountable Cross-Border Agreements (RCBA), which were implemented between June 25, 2018 and June 30, 2020 and were due to be submitted by February 28, 2021;
• RCBAs were held from July 1, 2020 to December 31, 2020 and were due to be submitted by January 31, 2021;
• RCBAs held between January 1, 2021 and August 31, 2021, which had to be submitted within 30 days of the date they were available for sale or were ready for implementation, or the first step in implementation was taken, depending on from what happened before;
• RCBAs for which secondary intermediaries provided assistance or assistance between January 1, 2021 and August 31, 2021 and were required to provide information within 30 days of the date of such assistance.

The above is for informative purposes only.  Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information.