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Council Directive for DAC6 Deferral Published in the Official Journal — Orbitax Tax News & Alerts

Council Directive (EU) 2020/876 was published in the Official Journal of the European Union on 26 June 2020 and entered into force on the following day. With the Directive's publication and entry into force, EU Member States are now officially allowed to defer the time limits for filing and exchanging information on reportable cross-border arrangements by up to 6 months.

The information to be reported, however, is unchanged, including information on reportable cross-border arrangements the first step of which was implemented between 25 June 2018 and 30 June 2020, and information on reportable cross-border arrangements that are made available for implementation, ready for implementation, or where the first step in its implementation has been made from 1 July 2020.

The Directive also provides that the Council may decide to provide a further extension of the deferral by 3 months, provided that severe risks to public health, hindrances, and economic disturbance caused by the COVID-19 pandemic continue to exist and Member States apply lockdown measures.