Ireland updates DAC6 guidance
On March 1, 2021, Irish Revenue published Revenue eBrief No. 040/21, noting several updates made to Tax and Duty Manual Part 33-03-03 on “EU Mandatory Disclosure of Reportable Cross-Border Arrangements”.
The practice of allowing an intermediary not to disclose information about a person to whom they made a reportable cross-border arrangement available, where the person indicated that they would not be proceeding with it, has been removed.
Further detail has been issued on the required disclosure standard in respect of the following specified information: the summary of the content of the cross-border arrangement; the national provisions forming the basis of the cross-border arrangement; and member states likely to be concerned by an arrangement.
Further guidance has also been issued on the following topics: the meaning of "may reasonably expect" in the application of the main benefit test; and the meaning of “knows or could be reasonably expected to know” in the context of a whether a secondary intermediary has a reporting obligation.
See Revenue eBrief No. 040/21
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