The Office of the CfR has announced that the Guidelines on the Mandatory Automatic Exchange of Information in relation to Cross-Border Arrangements have been published.
The Guidelines have been issued in terms of Article 96(2) of the Income Tax Act (Chapter 123 of the Laws of Malta) and are to be read in conjunction with the Cooperation with Other Jurisdictions on Tax Matters Regulations (Subsidiary Legislation 123.127).
DAC6 aims to provide Member States tax authorities with additional information in order to assist them to more rapidly close perceived loopholes in tax legislation and harmful tax practices. Taxpayers and intermediaries entering into or advising on cross border arrangements involving EU jurisdictions will need to monitor where reporting will be required and disclose as necessary.
Click here to view Version 1.0 of the guidelines.
