Cyprus: Additional Deadline Extension for DAC6 Implementation until November

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Eurofast would like to inform you that an additional extension of the deadline until November 30th, 2021 has been given by the Tax Department, as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements (DAC6 Reporting).   

The implementation of DAC6 continues to be retroactive and also concerns declarable cross-border arrangements after June 25th, 2018, with the following reporting deadlines:  

• Reportable cross-border arrangements that have been carried out from 25 June 2018 and 30 June 2020 
• Reportable cross-border arrangements made from 1 July 2020 until 31 December 2020, that had to be submitted within 30 days 
• Reportable cross-border arrangements carried out from 1 January 2021 until 31 August 2021, that had to be submitted within 30 days from the date  were it becomes/became available for implementation, or is ready for implementation or the first step towards its implementation has been taken (whichever occurs first) 
• Reportable cross-border arrangements for which secondary intermediaries provided/will provide support, advice, assistance, between 1 January 2021 and 31 August 2021 (i.e., within the normal application period of the Directive), and had to submit information within 30 days beginning on the day after they provided/will provide support, advice or assistance.

For further information relating to the DAC6 Implementation in Cyprus,  please contact  Constantinos Pavlou, Advocate/Legal Consultant. 

Eurofast is a regional business advisory organisation employing local advisors in over 23 cities in South East Europe & the Middle East . The Organisation is uniquely positioned as one stop shop for investors and companies looking for professional services in Tax & Transfer Pricing–Payroll & Employment–Accounting & Audit–Advisory & Corporate.

22/9/21