DAC 6 (EU Council Directive 2018/882/EU) imposes mandatory disclosure requirements on taxpayers for certain arrangements with a European Union cross-border element where the arrangements fall within certain specified characteristics, known as ‘hallmarks.’ The purpose of DAC 6 is to identify to the relevant UK/EU27 tax authority, arrangements where the main or expected benefit is an aggressive tax advantage.
The first reporting date is 30th August 2020 for arrangements that were made available, and/or where aid, assistance was provided by an intermediary, between June 25th, 2018 and July 31st, 2020.
Ghost Digital & Data (a Konica Minolta ProcessFlows partner) have designed a unique and flexible solution to ensure that intermediaries (eg law firms, banks, accountants, insurers etc) are compliant for DAC 6.
They have worked collaboratively with a number of organisations and tax authorities such as HMRC to design a solution that will meet the DAC 6 reporting requirements allowing intermediaries to report on their clients’ behalf.
The DAC 6 Assessment Software