Transposition of Tax Intermediaries Directive

The Cooperation with Other Jurisdictions on Tax Matters Regulations (Subsidiary Legislation 123.127) have been revised in virtue of Legal Notice 342 of 2019 published on 17 December 2019. The amendments, inter alia, transpose the provisions of Council Directive 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements (the Tax Intermediaries Directive).

The amendments also increase the penalties that may be imposed in terms of Regulation 6 in the event of failure to comply with a request for information by the Commissioner for Revenue.