On the 25th May 2018, the Council of the European Union (EU) adopted Council Directive (EU) 2018/822 amending Directive 2011/16/EU as regards the mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements (referred to as “DAC6” or “Directive”). DAC6 requires intermediaries to disclose to the relevant tax authorities certain cross border arrangements that contain one or more prescribed hallmarks. Where there is no EU intermediary or any EU intermediary(ies) are exempt from disclosing due to legal professional privilege, the obligation to disclose falls on the relevant taxpayers. The reporting obligation arises wherever the applicable arrangement satisfies at least one of the hallmarks and must be effected within 30 days from the arrangement being available or ready for implementation or began to be implemented, whichever is the earlier.
The objective of the session is to provide attendees with an overall summary of the DAC 6 reporting obligations thereby enabling attendees to establish whether they have a reporting obligation for past and future cross-border arrangements involvement. The session will explain who is an intermediary, what is a cross border arrangement and when a hallmark is triggered, together with an analysis of the main benefit test and a detailed overview of the hallmarks.
Following the seminar attendees should be in a better position to understand their reporting obligations and applicable deadlines.
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Josef Mercieca is a Tax Partner at BDO. Josef holds a first degree in Accounting and has worked with one of the Big Audit firms in Malta for four years, three years of which heading the indirect tax section of the firm. He also acted as the Tax Director for one of the longest established small audit firms for nearly six years where he headed both the direct and indirect tax department.
Josef is a member of the Malta Institute of Accountants (MIA) and the Malta Institute of Management and has lectured and delivered seminars and training on topics relating to VAT, local and international tax on various occasions, both in Malta and abroad. Josef was one of the contributing authors in “Principles of VAT Law” the first-ever local publication on VAT in Malta and regularly authors articles on taxation. He used to lecture Advanced Taxation (P6) and Taxation (F6) with Richard Clarke Academy. He also provides lectures to various institutions and associations. Josef has a broad experience in advising local and foreign clients in the setup of tax-efficient structures, in particular, involving international tax, capital gains tax, property transfer taxed and duty on documents and transfers.
Stephanie Wallerstrom Bileci is a Senior Tax Consultant at BDO. Her principle line of business is taxation including tax compliance and providing advice to local and international clients. She also been working in accountancy and financial management during which she held various positions with both local and foreign firms.
Stephanie is a Certified Public Accountant, graduated during the year 2017 and obtained her warrant during the year 2019. She is a member of the Malta Institute of Accountants (MIA) and Association of Chartered Certified Accountant (ACCA). Stephanie has also successfully completed an Advanced Diploma in Local and International Taxation by the Malta Institute of Taxation (MIT).
Milena Palikarova is an Assistant Tax Manager forming part of the BDO Malta Tax Team. Milena has successfully graduated from the University of National and World Economics, Bulgaria, where she was awarded a Bachelor of Commerce (Hons) degree, majoring in Economy of Commerce. Milena has also successfully completed a Master’s Degree in Business Administration (M.B.A.) and an Advanced Diploma in Local and International Taxation by the Malta Institute of Taxation (MIT).
After graduation, Milena launched her career in Malta, where she began her specialization in the Financial Services Industry. Focusing on the provisions of the Income Tax Act, general taxation issues and advising on financial and tax related matters, Milena has the experience and expertise to assist clients throughout the whole process of setting up tax-efficient structures.
Events resources will be sent by email after the delivery of the event.
Day 1: 03/02/2021
Start time: 14:00 CET
End time: 17:15 CET
Venue: Online Live Session
Phone: +356 27555560 / +356 77555560