D.A.C.6 – The Italian Way

Volume 8 No 2    /    Read Article

By Fabio Chiarenza and Carmen Adele Pisani (Guest Authors)

D.A.C.6 introduced broad mandatory reporting obligations for intermediaries and taxpayers involved in cross-border arrangements that meet certain features, commonly referred to as “Hallmarks.” The Italian Government implemented D.A.C.6 with Legislative Decree no. 100/2019, which follows the wording of the directive, Annex I to the Legislative Decree includes the list of Hallmarks to be considered for identifying reportable cross-border transactions, which matches Annex IV of the Directive.

In November 2020, the Italian Ministry of Finance published a decree containing specific clarifications for certain key aspects, including definitions of terms used in connection with the Hallmarks. Also, in November 2020, the Director of the I.T.A. issued a regulation adopting technical rules and procedures. This was followed by the issuance that provides certain clarifications regarding who must report, the scope of the report, and several interesting examples of cross-border arrangements that are reportable.

In their article entitled “D.A.C.6 – The Italian Way,” Fabio Chiarenza and @Carmen Adele Pisani of Gianni & Origoni, Rome, address the Italian rules implementing D.A.C.6. In comparison to advisers in other Member States who point out the areas in which guidance is sorely missed, the authors are able to take a deep dive into already issued Italian guidance, giving examples of how the guidance works in real life.

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 →