Italy publishes draft guidance on DAC6

Comments on the draft Circular on DAC6 must be submitted to the Italian tax authority by January 15, 2021.

The Italian tax authority has published a draft Circular setting out guidance on the country’s DAC6 reporting requirement.

The DAC6 reporting requirement was incorporated in Italian domestic law vide legislative decree of 30 July 2020, followed by the decree of 17 November 2020.

The Circular provides clarification as to the application of the DAC6 reporting requirement with the help of illustrations. It covers topics such as who should report, the reporting timelines, the reporting format, hallmarks, and penalties.

Comments on the draft Circular must be received by January 15, 2021.