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Consistency, Efficiency & XML Ready in DAC6, the latest addition to WiseBOS Suite

As one of the exclusive sponsors and strong supporters of CYFA for the year 2021, eBOS sponsored the Association’s 9th Seminar: DAC6 – A Practical Approach, which took place on November 10th in Limassol & November 12th in Nicosia.

The seminar’s objective was to enhance awareness and understanding of the Mandatory Disclosure Regime (‘’MDR’’) as this is provided by EU Council Directive 2011/16 (‘’DAC6 Directive’’) as well as indicating applicable challenges and means to address them.

The participants had the opportunity to understand the main provisions of the EU DAC6 Directive and the applicable Cypriot legislation as well as understand the fundamentals of reportable cross border arrangements.

During the seminar eBOS’ Business Analyst, Mr. Marios Petrides gave a short presentation of our WiseBOS DAC6 module, the latest addition to WiseBOS Suite.  As Mr. Petrides explained, WiseBOS DAC6 was developed in such a way that the needs for the mandatory obligation of reporting cross-border arrangements for taxpayers and intermediaries are met, effectively and efficiently.

eBOS development team created a module, where users have the capability to complete all necessary steps and fill in the required information, through a simple and user-friendly wizard, thus streamlining the entire procedure. The result of this is the automatic generation of an XML file that is ready to be submitted to the tax authorities.

Concluding Mr. Petrides underlined that eBOS’s DAC6 module provides a built-in dashboard with customizable widgets that show information on pending and completed transactions.