Pandemic Derails Prep for New EU Tax Disclosure Rules

Tax advisers are worried that amid the pandemic neither companies nor countries will be ready this summer when an EU directive on sharing tax information comes into effect.

They say help is needed, especially since some governments haven’t yet published much-needed guidance or finished implementing the European Union directive known as DAC 6 (EU Directive 2018/822).

The directive requires law firms or companies to report to tax authorities information on certain cross-border tax arrangements that could result in a tax benefit. Reported information will become part of a shared database accessible by all EU tax authorities. The EU ...