Regulations, 2020

L.N. 315 of 2020

INCOME TAX ACT

(CAP. 123)

INCOME TAX MANAGEMENT ACT

(CAP. 372)

Cooperation with Other Jurisdictions on Tax Matters (Amendment)

Regulations, 2020

IN EXERCISE of the powers conferred by articles 76 and 96 of

the Income Tax Act and by article 10A of the Income Tax Management

Act, the Minister for Finance and Financial Services has made the

following regulations:-

The title of these regulations is the Cooperation with Other Citation.

Jurisdictions on Tax Matters (Amendment) Regulations, 2020 and

these regulations shall be read and construed as one with the

Cooperation with Other Jurisdictions on Tax Matters Regulations, S.L. 123. 127.

hereinafter referred to as "the principal regulations".

In regulation 2 of the principal regulations, the definition Amends

"EU Administrative Cooperation Directive" shall be substituted by the regulation

the principal

following new definition

regulations.

" "EU Administrative Cooperation Directive" means

Council Directive 2011/16/EU of 15 February 2011 on

administrative cooperation in the field of taxation and repealing

Directive 77/799/EEC as amended by EU Council Directives

2014/107/EU, 2015/2376/EU, 2016/881/EU, 2018/822/EU and

2020/876/EU;".

Regulation 13 of the principal regulations shall be amended Amends

regulation 13 of

as follows

the principal

regulations.

(a)

paragraph (m) of sub-regulation (7) thereof shall be

substituted by the following new paragraph

"(m) Intermediaries and relevant taxpayers shall file

information on reportable cross-border arrangements the

first step of which was implemented between 25 th June

2018 and 30 th June 2020. Intermediaries and relevant

taxpayers, as appropriate, shall file information on those

reportable cross-border arrangements by 28 th February

2021.";

(b)

paragraph (e) of sub-regulation (8) thereof shall be

substituted by the following new paragraph

"(e) for the information laid down in sub-regulation

(7), within one (1) month of the end of the quarter in which

the information was filed. The first information shall be

communicated by 30 th April 2021."; and

(c) immediately after sub-regulation (11) thereof there

shall be added the following new sub-regulation

(12) (a) Notwithstanding the time limit laid

down in sub-regulation 13(8)(b), the communication of

information laid down in sub-regulation 13(2) that

relates to calendar year 2019, shall take place within

twelve months following the end of the year of

assessment during which the information became

available.

(b) The period of thirty (30) days for

filing information laid down in sub-regulation

13(7)(a) and (g) shall begin by 1 st January 2021

where

(i) a

reportable

cross-border

arrangement is made available for

implementation,

or

is

ready

for

implementation, or where the first step in its

implementation has been made between 1 st

July 2020 and 31 st December 2020; or

(ii) where intermediaries referred to

in paragraph (b) of the definition of

"intermediary" provided, directly or by

means of other persons, aid, assistance or

advice between 1 st July 2020 and 31 st

December 2020;

In the case of marketable arrangements, the first

periodic report in accordance with sub-regulation

13(7)(b) shall be made by the intermediary by 30 th

April 2021. ".

€0.18