Extension of DAC6 deadline

The Tax Department of Cyprus announced on 22 November 2021 that there will be no imposition of administrative fines with respect to the submission of information on reportable cross-border arrangements under DAC6 until 31 January 2022. The extension is applicable to all reportable cross-border arrangements between 25 June 2018 and 31 December 2021. 

It is noted that reportable cross-border arrangements as from 1 January 2022 must be reported within 30 days from the day after:

  • the arrangement is made available for implementation to the relevant taxpayer; or,
  • the arrangement is ready for implementation by the relevant taxpayer; or,
  • the day that the first step of the arrangement has been implemented; or, 
  • the day that aid, assistance or advice has been provided with respect to a reportable arrangement.

For further information on DAC6 please contact our Tax Department or your usual contact at Elias Neocleous & Co. LLC.