M. Target Group hereby informs that in accordance with the recent announcement by the Cyprus Tax Department the period for the non-imposition of administrative fines for overdue submission of DAC6 information is further extended to 31 January 2022 (previously 30 November 2021), in the following cases:
- Reportable cross-border arrangements that were implemented between 25 June 2018 and 30 June 2020 and had to be submitted by 28 February 2021;
- Reportable cross-border arrangements held between 1 July 2020 and 31 December 2020 and had to be submitted by 31 January 2021;
- Reportable cross-border arrangements held between 1 January 2021 and 1 January 2022, 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 was made, whichever occurred first;
- Reportable cross-border arrangements for which secondary intermediaries provided aid, assistance or advice, between 1 January 2021 and 1 January 2022 and had to submit information within 30 days beginning on the day after they provided aid, assistance or advice.
- The periodic reports for marketable arrangements.
M. Target Group remains at your disposal for any further clarifications or professional assistance regarding DAC 6 reporting as applicable to your business.