On 5 March 2024, the German Federal Central Tax Office (BZSt) published Newsletter No. 01/2024, addressing updates on the common reporting standard (CRS). Notably, the newsletter announces an extension of the deadline for the non-objection waiver concerning breaches of reporting obligations related to the collective trust accounts of lawyers. The new deadline has been shifted from 31 December 2023 to 31 December 2024.
- Provisional Country Exchange List 2024: The BZSt website has now published the provisional list of countries participating in the automatic exchange of information (AEOI) concerning financial accounts for tax purposes. This list includes countries that have committed to AEOI. However, it’s essential to note that this list isn’t currently used for data transmission in 2024. Instead, its purpose is to assist financial institutions in preparing data.
- Communication Manual Updates:
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- Part 2 Revisions: The Communication Manual Part 2 has been revised, primarily featuring minor changes.
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- Introduction of New Communication Manual Part 4: A new version of the Communication Manual Part 4 has been introduced. This updated manual includes fresh error messages along with potential causes and solutions. Additionally, it provides guidelines on specifying taxpayer information numbers (TINs) or INs in XML schemas.
