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CUSTOMER INFORMATION

Regulatory Framework

CRS Information Note

CRS has been imposed in Europe through the European Directive on Administrative Cooperation (DAC2) and in OECD member-states that have signed multilateral agreements on the exchange of tax details.

The financial institutions shall collect information about the tax residence of their customers, in accordance with the following laws:

  • L.4378/2016 on the Adaptation of the Greek Legislation to the provisions of Directive 2014/107/EC on the mandatory automatic exchange of tax information and Directive 2015/2060/EC.
  • L.4428/2016 on the validation of the Multilateral Agreement of Competent Authorities on the automatic exchange of information about financial accounts and application provisions.

The financial institutions in Greece specify and collect specific information / details of their customers that reside for tax purposes in a country that participates in the automatic exchange of tax information and report every year this information to the relevant Greek tax authorities.

The above information / details of the notifiable persons include the following:

  • Full client name / Name of the Legal Entity
  • Address
  • Tax ID No. (TIN)
  • Account details and balance
  • Interests / dividends

The tax regime with regard to the Common Reporting Standard (CRS) and the European Directive on Administrative Cooperation – DAC2 shall be specified as long as the Customers complete the special forms and produce the following supporting documents:

  • Self-certification form in case of natural persons.
  • Self-certification form in case of legal persons.
  • Self-certification form in case of controlling persons.

As the Bank may not provide tax consultancy services, you can further be informed about CRS and the list of countries/jurisdictions that have signed contracts on the automatic exchange of information by the following:

  • Organization for Economic Co-operation and Development (OECD).
  • Independent Authority for Public Revenue (IAPR).
  • Your tax consultant

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