Dac6 Spain: Bizkaia incorporates into its regulations the obligation to report on cross-border operations

The advisory provided by the DAC6 in Biscay will differentiate it from the State Bill

On July 27th, the Official Gazette of Bizkaia published its Regional Standard 6/2020. Among the measures included in this regulation, the transposition of the DAC6 Directive stands out. With this legislation, the following objectives are intended to be achieved:

  • That tax advisors must communicate the content of certain international operations that may affect a member state of the European Union (EU).
  • That the tax authorities of the Member States know in advance a good number of the transnational operations of their taxpayers.
  • That the taxpayers and their advisors evaluate, even if it is possible with more rigor, the economic rationality, alignment with the business and fiscal cleanliness of their international transactions.

It should be noted that the Directive published in Biscay contains a series of amendments with regard to the initial Draft State Law and Provincial Regulations:

  • The communication of the mechanisms, whose duty to declare arose between June 25th 2018 and June 30th 2020, is deferred until February 28th 2021.
  • The content of the professional secrecy waiver has been extended so that tax intermediaries will not be obliged to declare information relating to mechanisms in which they participate.
  • 2,000 per item or set of information not submitted or submitted incompletely, inaccurately or falsely.
  • The minimum penalty is 4,000 euros. 

Finally, it will be necessary to wait for the provisions of the regulation to know the deadlines for communication corresponding to the mechanisms between June 30th and December 31st 2020.

B Law & Tax
International Tax & Legal Advisors.

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Etiquetas: Cross-border mechanisms, Biscay, current regulations, international operations, Dac6 consultancy, Dac 6 international advisor