Since 1 July 2020 certain reportable cross-border transactions must be notified to the tax office within 30 days. In addition, information on arrangements for which the first step in the implementation took place from 25 June 2018 to 30 June 2020 must be reported by 31 August 2020.
The European Council reached agreement on amending the DAC 6 directive (Directive (EU) 2020/876) granting the possibility of postponing the reporting obligations by 6 months. However, based on current information Austria will not exercise this option, as announced by the Federal Ministry of Finance in the draft information letter on the application of the EU Reporting Obligations Act. The statutory reporting deadlines should therefore remain formally unchanged.
According to the draft, however, the electronic transmission of the initial notification should be possible until 31st October 2020 without financial penalties due to technical delays in the creation of the central register at Union level. This results in a de-facto postponement of the first reporting deadlines until the end of October 2020.
Even if the reporting obligation could thus be postponed until autumn, the implementation of an adequate DAC 6 process should not be delayed any longer. We would be pleased to support you in the assessment and implementation of the EU reporting obligations. You can read more about our appraoch here.
The draft of the information letter also contains statements on the scope of application and interpretation of the EU reporting obligations, which we will inform you about after the assessment.
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