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:
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:
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:
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: