French Administrative Pronouncements on D.A.C.6

Volume 8 No 2    /    Read Article

By Mallory Labarriere and Anne-Lise Chagneau (Guest Authors)

Long before the #D.A.C.6 was adopted and then transposed into domestic law across Member States in the European Union, France adopted rules to tackle tax fraud, beginning in 2012 with measures aimed at residents holding undisclosed funds through foreign bank accounts. In 2018, the Government was authorized to legislate by way of Ordinance the transposition D.A.C. 6 into French law. D.A.C.6 fits into a global framework of transparency to combat fraud and tax evasion.

In their article entitled “French Administrative Pronouncements on D.A.C.6,” Mallory Labarriere and Anne-Lise Chagneau of Nexa Avocats, Paris, have prepared the ultimate guide to D.A.C.6 rules in France. In a way that is understandable yet complete, they address topics such as:

• Persons who should report,
• Persons thar are intermediaries,
• Persons that must report when there is no intermediary or the intermediary benefits from a legal professional privilege,
• Cross-border arrangements,
• The importance of a #territorial nexus between an intermediary and France,
• The reporting deadlines,
• The categories of Hallmarks,
• The Main Benefit Test,
• The general and specific Hallmarks linked to the Main Benefit Test,
• Hallmarks on automatic exchanges of information on ownership, and
• Hallmarks on transfer pricing transactions.

The article is part of a nine-country survey of D.A.C.6 implementation published in the March edition of Insights, the international tax journal of Ruchelman P.L.L.C.   See more →