Transposition of the Tax Intermediaries Directive

The Cooperation with Other Jurisdictions on Tax Matters Regulations have been revised by virtue of Legal Notice 342 of 2019 which was published on 17 December 2019. The amendments, 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.