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#1 2020-02-19 21:07:53

xeuld
Administrator

EU changed blacklist: consequence for DAC6

The EU included the Cayman Islands on their blacklist.

Now all payments have to be reported where the wire-transferee is tax resident in the Caymans.
This will majorly affect funds. Everyone agrees that in a fund the investor should be taxed and not the fund, however, all payments for funds will now be reported.

The EU truly makes sure that DAC6 will be useless. Receiving millions of reports about something that is neither tax aggressive nor unknown to the tax authorities will ensure that important information on aggressive tax arrangements will be deeply buried.

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