The Tax Department of the Republic of Cyprus has announced an extension to the imposition of administrative fines for overdue submission of information subject to EU Directive 2018/822 (“known as DAC6”). The revised submission deadline for DAC6 has been set for 30 November 2021 for 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 October 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;
- for which secondary intermediaries provided aid, assistance or advice, between 1 January 2021 and 31 October 2021 and had to submit information within 30 days beginning on the day after they provided aid, assistance or advice; and
- the first periodic report for marketable arrangements that had to be submitted by 30 April 2021.
The Tax Department has clarified that no administrative fines will be imposed for the overdue submission of DAC6-related information that will be submitted until 30 November 2021 for the above-listed cases.
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