ISDA and the Association for Financial Markets in Europe (AFME) have published a paper on the EU directive regarding mandatory automatic exchange of information in the field of taxation in relation to reportable, cross-border arrangements (DAC 6).
There is currently a lack of guidance specifically addressing the application of the DAC 6 disclosure hallmarks to financial products. ISDA and AFME have therefore developed this paper to propose a common approach, based on market participants’ understanding of DAC 6 principles.
Although non-binding, the paper is being made publicly available to ensure the analysis and conclusions are transparently disclosed to market participants and to foster dialogue among stakeholders, including government authorities.
Documents (1) for Application of DAC 6 to Financial Products and Services
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