The Tax Department of Cyprus announced, on 26 February 2021, that there will be no imposition of administrative fines for overdue submission of DAC6 information in the following cases, provided that the relevant information is submitted by 30 June 2021:
(a) Reportable cross-border arrangements that were made between 25 June 2018
and 30 June 2020, information on which should originally have been submitted by 28 February 2021.
(b) Reportable cross-border arrangements that were made between 1 July 2020
and 31 December 2020, information on which should originally have been submitted by 31 January 2021.
(c) Reportable cross-border arrangements that were made between 1 January 2021 and 30 May 2021, information on which should have been originally 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 had been made, whichever occured first.
(d) Reportable cross-border arrangements for which secondary intermediaries provided
aid, assistance or advice, between 1 January 2021 and 30 May 2021 and which originally had to submit information within 30 days, beginning on the day after they provided aid,
assistance or advice.
For more information on this or on the provisions of DAC6 in general please speak with Elena Christodoulou or your usual contact at Elias Neocleous & Co LLC.