The European Commission has decided to propose deferring certain deadlines for filing and exchanging information under the Directive on Administrative Cooperation (DAC) as a result of the difficulties that businesses and member states are facing at the moment with the Coronavirus crisis.

Based on the proposed changes, Member States will have three additional months to exchange information on financial accounts of which the beneficiaries are tax residents in another member state. Similarly, member states will have three additional months to exchange information on certain cross-border tax planning arrangements.

Depending...