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Cyprus further extends non-application of administrative fines for DAC6 submissions until 31 January 2022 and issues circular on DAC6 penalties

24 November 2021

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Tax Alerts, Information Reporting, Legis...

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Cyprus, European Union

On 22 November 2021, the Cypriot Tax Department (CTD) announced a further extension to 31 January 2022 of the non-application of administrative fines for submissions with respect to information on reportable cross-border arrangements under the Cypriot DAC6/Mandatory Disclosure Rules (MDR)1 Law (Law 41(I)/2021 of 31 March 2021, amending Law 205(I)/2012 on Administrative Cooperation in the Field of Taxation of 2012, hereinafter referred to as the Law).2The CTD previously issued an announcement in September 2021 extending the non-imposition of administrative fines for DAC6 submissions until 30 November 2021.In its latest announcement and following the formal extension of reporting deadlines for DAC6 submissions...