Following the adoption of the 6th Directive on Administrative Cooperation (commonly known as DAC6) and its transposition into Cyprus legislation in March 2021, all companies must report any arrangements that fall under the scope of DAC6 to the local tax authorities. Failure to report such arrangements can lead to an administrative fine of up to EUR20.000, applied either to intermediaries or taxpayers. 

AsusPlus experts can help assess your transactions to determine whether they fall under the DAC6 and can also prepare a defensive file to justify the DAC6 treatment of each transaction. If you need further help to understand the intricacies of DAC6, we also organise tailored seminars depending on your needs.