The Tax Department of the Republic of Cyprus has announced an extension to the reporting deadlines under DAC-6 (EU Directive 2018/822). The Tax Department has clarified that no administrative fines will be imposed for submission of DAC-6 related information that will be submitted until 30 September 2021. Such information include the following reportable cross-border arrangements:
- made between 25 June 2018 and 30 June 2020 and had to be submitted by 28 February 2021;
- made between 1 July 2020 and 31 December 2020 and had to be submitted by 31 January 2021;
- made between 1 January 2021 and 31 August 2021, that had to be submitted within 30 days from the date they were made available for implementation or were ready for implementation or the first step in the implementation has been made, whichever occurred first; and
- for which secondary intermediaries provided aid, assistance or advice, between 1 January 2021 and 31 August 2021 and had to submit information within 30 days beginning on the day after they provided aid, assistance or advice.
For any further information, please contact Stephanos Ayiomamitis, Senior Associate at Michael Kyprianou and Co LLC via email at: email@example.com or by phone at +357 25363685.