Germany’s central tax office (BZSt) on 21 March 2017 released information for financial institutions and foreign “service providers” about: the registration procedure for electronic submission of common reporting standard (CRS) returns; new FATCA/CRS guidance notes; changes to the reportable jurisdictions list; and revisions to the CRS communication manual.
The information explains that financial institutions are required to register with the CRS department of the BZSt before transmitting the CRS returns. The registration must be independent of whether the financial institution has already transmitted data for another procedure via certain other portals (the ElsterOnline portal or BZStOnline portal); however, the same login credentials can be used to notify the CRS department about the CRS data transmission along with the desired interface (ElsterOnline portal or BZStOnline portal).
Read a March 2017 report prepared by the KPMG member firm in Germany
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