The mandatory disclosure regime (DAC 6): A series of practical case studies
On 1 July 2020, the mandatory disclosure regime (MDR) entered into force with first reporting deadlines set at the beginning of 2021. With few months left in 2020, intermediaries and taxpayers have to urgently prepare for the new reporting obligations in order to mitigate the risk of penalties. As the MDR applies with retroactive effect, cross-border arrangements implemented since 25 June 2018 have to be reviewed “now”.
However, how are reportable cross-border arrangements determined? How should some of the more ambiguous hallmarks be interpreted? And, what is a reasonable approach towards the interpretation of the main benefit test (MBT)?
This is the second of two briefings on the MDR that focuses on practical case studies. While the briefing is based on the Luxembourg implementation of DAC 6 (which is largely a copy/paste of the Directive), given that most EU Member States adhered to the hallmarks and the MBT as provided under DAC6, the content of this briefing should also inform the interpretation of DAC 6 across Europe.
2. How to manage reporting obligations in practice
3. Practical case studies
a. The Luxembourg real estate fund
b. The foreign private equity fund
c. The multinational group
d. The insurance company
4. Concluding remarks
Oliver R. Hoor is a Partner in the International and Corporate Tax department of ATOZ. A tax professional since 2003, Oliver has experience in Luxembourg and international taxation with a focus on alternative Investments (private equity, real estate, sovereign wealth funds, hedge funds), mergers & acquisitions and multinational groups. Oliver advises clients on all direct tax aspects regarding deal structuring, maintenance, reorganisations and exit planning. He is Head of Transfer Pricing and the German Desk.
La société Legitech a obtenu l’agrément du Barreau de Luxembourg.
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