On December 16, 2022, the Federal Council passed the law implementing Council Directive (EU) 2021/514 of March 22, 2021 amending Directive 2011/16/EU on administrative cooperation in the field of taxation and on the modernization of the Tax procedural law (so-called “DAC 7 Implementation Act”) that was previously decided by the Bundestag on November 10th, 2022*. In addition to the implementation of the DAC 7 guideline for creating tax transparency in the digital platform economy, a second focus of the law from a procedural point of view is the modernization of the external audit, which is particularly important from a transfer pricing perspective.
Source WTS
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