EU Vote Paves Way for Extending Cross-Border Reporting Deadline

A European Parliament vote paved the way for EU countries to agree on a six-month extension of deadlines for companies and tax advisors to report on their cross-border tax arrangements.

The vote on tax reporting rules known as DAC 6 could be a step forward in giving companies some breathing space to review their arrangements in the context of the difficulties imposed by coronavirus. EU lawmakers June 19 supported an extension of deadlines by 500 votes to 152, with 13 abstentions.

The parliament’s vote is advisory, but under EU procedural rules was required before EU countries can take ...