EU Directive 2018/822, adopted May 25, 2018, is in process of being adopted by Member States through the end of this year. A summary of the status is as follows:
- Adopted: Hungary, Poland, Lithuania, Slovenia
- Published legislation: Austria, Cyprus, Czech Republic, Denmark, Estonia, Finland, Germany, Italy, Luxembourg, Netherlands, Portugal, Slovakia, Spain and UK
- Formal consultation: Latvia and Sweden
- Informal consultations: Belgium, France, Ireland, Malta, and Romania
- No action yet; Bulgaria, Croatia and Greece
- Under the Directive, cross-border reportable arrangements, where the first step of implementation is taken during the transitional period between 25 June 2018 and 30 June 2020, are required to be reported by 31 August 2020. As of 1 July 2020, reporting will be required within 30 days of a triggering event, e.g., the cross-border arrangement being ready for implementation. However, Poland has earlier rules.
International tax professionals should be aware of the above rules, coordinating relevant reporting externally and internally.
EY’s Global Tax Alert has additional details, for reference.