Cyprus announces extension of the non-application of administrative fines for DAC6 submissions until 30 September 2021 and an update to the Cypriot XML schema

On 4 June 2021, the Cypriot Tax Department (CTD) issued an announcement regarding a further extension to 30 September 2021 of the non-application of administrative fines for submissions with respect to information on reportable cross-border tax arrangements under the European Union (EU) Directive on the mandatory disclosure and exchange of information (referred to as DAC6 or the Directive).

The CTD had issued an earlier announcement extending the non-imposition of administrative fines for DAC6 su…