In line with the publication and coming into force of COUNCIL DIRECTIVE (EU) 2020/876 of 24 June 2020 amending Directive 2011/16/EU to address the urgent need to defer certain time limits for the filing and exchange of information in the field of taxation because of the COVID-19 pandemic, the Commissioner for Revenue will be deferring the first reporting deadlines under regulation 13 of the SL 123.127 COOPERATION WITH OTHER JURISDICTION ON TAX MATTERS REGULATIONS by six months. An amending legal notice will thus be issued to this effect within the coming weeks. This will provide taxpayers and intermediaries dealing with the impacts of the covid-19 pandemic with additional time to ensure that they can comply with their obligations under regulation 13(7) of the Cooperation Regulations, with minimal impact on their business.
In light of this deferral, reporting systems in relation to reportable cross-border arrangements will be made available to taxpayers and intermediaries ahead of the new, deferred deadlines. The Commissioner for Revenue intends to publish guidance within the coming months to help businesses in their preparations to meet their reporting obligations.