To aid financial institutions in complying with their reporting requirements, The National Agency for Fiscal Administration (ANAF) has established a dedicated section on its portal for the automatic exchange of information on direct taxes.
ANAF, in a release published on 27 May, 2024, urged financial institutions to adhere to fiscal due diligence procedures and submit annual reports on financial account information to ANAF under the provisions of Art. 62 of Law no. 207/2015.
This section now features an updated version of the ‘Frequently Asked Questions – CRS’ document provided by the Organisation for Economic Cooperation and Development (OECD). It also includes additions regarding due diligence requirements and definitions of specific terms.
Financial institutions are required to integrate these updates in their application of fiscal due diligence procedures to ensure compliance with future reporting obligations.
