The Ministry of Finance submitted an amendment to the tax procedure rules that would provide access to information about taxable entities and their bank accounts to taxation and other government authorities, responding to a decision of the Supreme Administrative Court on the scope of banks’ reporting duties.
It is clear from the ministry’s explanatory report that it does not agree with the Supreme Administrative Court’s restriction of the scope of information provided by banks and other similar institutions to information explicitly specified in the tax procedure rules. Under the new amendment, information that upon request, will have to be submitted to the tax authority includes information about persons authorised to dispose of cash at the bank, persons who deposited cash to an account, and about payment recipients. It also includes information about remote access services attached to a bank account, including specifics of the remote access equipment, and information about safe deposit boxes.
Referring to the EU Directive on Administrative Cooperation (DAC 5), the ministry proposes to extend the catalogue of information submitted by liable persons under the anti-money laundering law. In accordance with the new amendment, the tax authority will be able to request from various entities all information obtained during the identification and inspection of taxpayers under the act, including related written materials and information about the collection method of such information.
Read a March 2017 report prepared by the KPMG member firm in the Czech Republic
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