DAC6: Many Non-tax Tractions Will Fall Under the New EU Reporting Regulations

In the upcoming weeks, all companies and intermediaries operating under the European Union will have to establish and maintain systems in order to identify transactions affected by the new EU DAC6 regulations, as per the EU Administrative Cooperation Directive.

A wider range of transactions will now qualify for being reported to taxpayers' local tax authorities, with a lot of them being ordinary finance or transactions with no particular tax objective.