DAC2

DAC2 is an acronym that can refer to more than one topic. The most prominent current use is in the European Union, where DAC2 denotes the second phase of the Directive on Administrative Cooperation in the Field of Taxation. Also known as DAC2, this amendment to the earlier DAC framework extends and updates arrangements for the automatic exchange of information between tax authorities. The aim is to improve tax transparency and reduce cross-border tax evasion by standardizing reporting of specified financial information, such as account balances and income, among member states. Implementation has been carried out progressively by EU members, in line with international reporting standards, and is overseen by national tax authorities and the European Commission. The DAC framework also intersects with privacy and data-protection rules, requiring safeguards for the handling and transfer of sensitive information.

Beyond the EU directive, DAC2 is sometimes used as a model or product designation in the technology sector, particularly as a version label for digital-to-analog converters and related audio hardware or software interfaces. In such cases, DAC2 does not denote a single standardized device; the exact specifications depend on the manufacturer and product line. When encountering the term, context or accompanying documentation should be consulted to determine the intended meaning.