Portfolio company spotlight:

TaxModel introduces DAC6 PRO

Tax SaaS provider, TaxModel, which was added to the Newion III portfolio in December 2018, specialises in direct tax reporting, tax compliance and transfer pricing. Its software solution ensures 100% compliance while minimising the administrative and reporting burden.

Under EU Directive DAC6, which came into effect on 25 June 2018, all tax reporting must comply with the EU Mandatory Disclosure Regime (MDR) from 1 July of this year. The transposition of the Directive into national legislation in 28 countries including the UK, means that intermediaries and/or taxpayers are required to assess, document and/or (XML) report potentially aggressive international tax arrangements to the tax authorities. These are schemes set-up by in-house tax teams or intermediaries that may enable taxpayers in other (EU) countries to avoid paying tax or evade tax reporting obligations.

With many companies and professionals suddenly becoming aware of the need for compliance, TaxModel is receiving overwhelming interest.

If you need to comply with the new mandatory disclosure reporting requirements, DAC6 PRO may be the solution you're looking for.