Cyprus provides DAC6 penalty relief

The Cyprus Tax Department has said that there will be no imposition of administrative fines for overdue submission of DAC6 information that will be submitted until the June 30, 2021.

The extension applies in the following cases:

• Reportable cross-border arrangements that have been made between June 25, 2018, and June 30, 2020, and had to be submitted by February 28, 2021.
• Reportable cross-border arrangements that had been made between July 1, 2020, and December 31, 2020, and had to be submitted by January 31, 2021.
• Reportable cross-border arrangements made between January 1, 2021, and May 30, 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 in the implementation has been made, whichever occurred first.
• Reportable cross-border arrangements for which secondary intermediaries provided aid, assistance or advice, between January 1, 2021, and May 30, 2021, and had to submit information within 30 days beginning on the day after they provided aid, assistance or advice.

See Announcement