- Consultation on draft regulations to implement DAC 6
- Original news
- What is the background to the publication of these draft regulations? What type of arrangements are covered?
- Who will need to make returns under the draft regulations?
- What is provided about the practicalities of making a return?
- Are there any pitfalls?
- What are the penalties for non-compliance?
- How would the draft regulations interact with the rules on DOTAS? Might the same arrangements need to be disclosed under both sets of rules?
- How would the draft regulations be affected by a no-deal Brexit?
- What should law firms be doing to prepare?
- What are the commencement provisions? What are the next steps in the consultation process?
Tax analysis: The government is consulting on draft regulations to implement Directive (EU) 2011/16—which requires taxpayers and their advisers, from 1 July 2020, to report details of certain cross-border arrangements that could be used to avoid or evade tax to HMRC. Ray McCann, partner at Joseph Hage Aaronson LLP, discusses, among other things, the background to the draft regulations and the type of arrangements covered.
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