Extension of Deadline for Implementation of DAC6 in Cyprus

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Eurofast would like to inform you that a further extension of the deadline has been announced regarding the mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements (DAC6 Reporting). The new extension date is the 30th of June, 2021. 

The implementation of DAC6 remains retroactive and relates to declarable cross-border arrangements post June 25th, 2018, with the following reporting deadlines: 

• Declarable cross-border arrangement that has been carried out since the 25^th of June 2018. 
• Declarable cross-border arrangements made from the 1st of July 2020 until 31st  December 2020, will be submitted within 30 days. 
• Declarable cross-border arrangements carried out from 1st January 2021 onwards, will be submitted within 30 days from the date it becomes available for implementation, or is ready for implementation or the first step towards its implementation has been taken (whichever occurs first). 

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 22 cities in South East Europe & Middle East (SEEME). The Organisation is uniquely positioned as one stop shop for investors and companies looking for professional services in South East Europe & Middle East.