We would like to inform you that the Cyprus Tax Department announced on 03 February 2021, that the EU Directive regarding DAC6 is expected to be incorporated into the Cypriot legislation within the current month.
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Taking into account the above, the following submission deadlines are extended until 31 March 2021:  

  1. reportable cross-border arrangements of which the first step of implementation took place between 25 June 2018 and 30 June 2020 (previous deadline:28 February 2021)
  2. reportable cross-border arrangements held between 1 July 2020 and 31 December 2020 (previous deadline:31 January 2021)
  3. reportable cross-border arrangements held between 1 January 2021 and 28 February 2021, that had to be submitted within 30 days from the date they were made available for implementation or were ready for implementation or the first step of implementation has been made, whichever occurred first
  4. reportable cross-border arrangements for which secondary intermediaries provided aid, assistance or advice, between 1 January 2021 and 28 February 2021 and had to submit information within 30 days beginning on the day after they provided aid, assistance or advice.

For your reference and convenience, you can find more details in relation to the provisions of the Directive (EU) 2018/822 (DAC6) here.

How we can help

  • raising awareness of the compliance requirements
  • assess the impact of the provisions of the EU directive to your business
  • identification of any reportable transactions or structures
  • technical advice regarding Hallmark analysis
  • advice and assistance on the transition phase (internal processes and software integration)
  • selecting a solution or tool that aligns with local requirements.