The European Union has introduced mandatory disclosure requirements for certain types of ‘disclosable transactions’ (i.e. cross-border tax transactions) undertaken by taxpayers with effect from 1 July 2020. These rules have retroactive effect (i.e. apply to transactions with effect from 25 June 2018). Due to the impact of COVID-19 pandemic, the original filing deadlines have been deferred by the Revenue Commissioners for six months.

In this briefing, we cover:

• Transactions in Scope:

1. Cross border requirement
2. ‘Reportable arrangements’ – the ‘hallmarks’

• What are the reporting obligations?
• Penalties for non-compliance
• The impact of these new requirements on insurers, reinsurers and (re)insurance intermediaries with operations in the European Union

Click here or on the image below to download our briefing.