The Tax Department of the Republic of Cyprus has announced that DAC6 (which is the Council Directive (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements) is expected to be transposed into national law within February 2021.
In light of the foregoing, as well as the fact that some of the deadlines for the submission of information pursuant to DAC6 have elapsed, an extension has been granted until 31 March 2021 in the following cases:
- Reportable cross-border arrangements that have been made between 25 June 2018 and 30 June 2020.
- Reportable cross-border arrangements that have been made between 1 July 2020 and 31 December 2020.
- Reportable cross-border arrangements made 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 in the implementation has been made, whichever has occurred first.
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.