27
Jan
2021

DAC6: Post-Brexit Considerations and Practical Issues for the Investment Management Industry

14:00

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Following the last-minute conclusion of a Free Trade Agreement between the UK and the European Union, the UK announced that it will now be implementing a limited version of the DAC6 rules ahead of a future transition to the OECD's Model Mandatory Disclosure Rules.

In summary, this means that:

  • Reporting under DAC6 in the UK will still be required for a limited time, but only for arrangements which meet hallmarks under category D, in line with the UK’s obligations under the FTA.
  • In the coming year, the UK will consult on and implement the OECD’s MDR as soon as practicable, to replace DAC6 and transition from European to international rules.

Attending this webinar will provide you with insight into:

  • Background to the UK’s new status vis-à-vis the EU.
  • Practical issues and concerns arising as a result of this change for reportable transactions under other DAC6 Hallmarks until December 2020 and for reporting under Hallmark D going forward.
  • The future of UK version of DAC6.

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