The Directive establishes tax advice on certain international operations
Spain implements the transposition of the DAC6 Directive at the national level. Given this, this Directive has imposed on the Member States the obligation to transpose its content before July 1st, 2020. Some territories such as Álava or Guipúzcoa have already approved the incorporation of this new obligation into their regulations.
On June 12th, the deadline for submitting amendments to the Draft Regional Law to transpose our regulations into the DAC6 Directive was opened. However, it is necessary to take into account some events that have arisen in recent days and that may affect the transposition of these regulations:
- On the one hand, due to the crisis caused by the effect of COVID-19, the European Commission proposes the postponement of the deadlines for the presentation initially foreseen and the possibility of extending the period of postponement once more, for a maximum three additional months, depending on the evolution of the pandemic.
- On the other hand, the current draft amendment to the General Tax Law for the incorporation of these new obligations in the Common Territory has expanded the content of the dispensation for professional secrecy..
- The intermediaries that participate in a reportable operation will not be obliged to communicate to the Treasury the data of any operation when their participation is limited to "evaluating the adequacy of the mechanism to the applicable regulations and without seeking or facilitating its implementation".
- The participating intermediary will not be obliged to issue any communication, but must be some other intermediary not covered by the prerogative of professional secrecy or the taxpayer himself who makes the communication.
Finally, although the draft amendment to the General Tax Law does not contemplate the extension of terms recommended by the Commission, it is expected that this extension will be reflected in the final text of the regulations.
B Law & Tax
International Tax & Legal Advisors.