The Council of the European Union, revised Directive 2011/16/EU in considerations with the mandatory automatic exchange of data information in the area of taxation concerning reportable cross-border arrangements, known as ‘DAC6’ or Mandatory Disclosure Rules (MDR) Directive. With the new law, Intermediaries or taxpayers will be required to disclose to their tax authorities information on reportable cross-border arrangements. DAC6 applies to cross-border tax arrangements, which meet one or more specified characteristics (hallmarks), and which concern either more than one EU country or an EU country and a non-EU country.  Not complying with DAC6 could mean significant sanctions under domestic law in EU countries and reputational risks for businesses, individuals and intermediaries.

Key Attributes

Seamless integration with existing products

Automated flagging of reportable parties

Customizable dashboards

Support multiple DAC formats

FATCA and CRS solution

XML generation and support

Value Delivered

Centralized Reporting Framework

Single solution to report prescribed credit information on consumer & non-consumer loans

Robust Internal Control

Real-time business validations to ensure high-quality data & accurate reporting

Granular Credit Data

Reporting loan-by-loan and borrower-by-borrower credit information to the Register

Concentration /Credit Risk Analysis

To detect vulnerabilities and make responsible lending decisions

Automated Data Extraction

Process-ready templates to meet technical submission requirements

Micro & Macro Prudential Supervision

Transmitting high-quality credit information to promote healthy credit culture

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