Malta has announced its decision to defer reporting under the EU’s sixth Directive on Administrative Cooperation, on tax schemes, for six months.

The sixth EU Directive on Administrative Cooperation (DAC6) entered into force on July 1, 2020. It introduces a new EU mandatory disclosure regime for certain cross-border transactions that could potentially be used for aggressive tax planning.

In June, the European Council agreed to allow EU member states the option to defer by up to six months the time limits for the filing and exchange of the required information.

Malta’s Commissioner for Revenue intends to publish guidance within the coming months to help businesses in their preparations to meet their reporting obligations.