Volume 8 No 2    /    Read Article

By Martin Phelan (Guest Author)

Following the introduction of the D.A.C.6 Council Directive, certain “intermediaries,” including lawyers, banks, accountants, and fund managers, and certain taxpayers are required to disclose “potentially aggressive tax planning schemes with a cross-border element” to the tax authorities in the jurisdictions where they are located. The aim of the regime is to tackle aggressive tax planning by increasing scrutiny given to previously unseen activities of tax planners and advisers. Despite the focus on “aggressive” arrangements, the reporting obligations can in principle catch a wider range of transactions and matters. As such, it is likely that cross-border arrangements that are not used for aggressive tax planning will be reportable because they bear a Hallmark that is listed in one or more of the categories.

In his article entitled “D.A.C.6 in Ireland – Key Features of the Administrative Guidance,” Martin Phelan of Simmons & Simmons, Dublin, addresses the rules that apply to “cross-border arrangements” that will be reportable if one or more relevant “Hallmarks” are applicable. His F.A.Q.’s allow the reader to focus easily on the most important issues and answers.

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 →