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Taiwan: Guidance for CRS reporting for 2019 information

Taiwan: Guidance for CRS reporting for 2019 information

The tax authority of Taiwan announced that “reporting financial institutions” must report all financial account information from 2019 (the previous calendar year) between 1 June 2020 and 30 June 2020, as guidance relating to the common reporting standard (CRS) regime.

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This will be the first year for CRS reporting. Financial institutions are reminded of the following:

  • Reporting financial institutions with a head office in Taiwan must report all reportable account information, including domestic branches. If the head office of a reporting financial institution is outside Taiwan, each branch in Taiwan must report the information separately.
  • A reporting financial institution can delegate its reporting obligations.
  • All reporting processes are to be completed via a CRS financial institution portal.
  • Financial institutions must report information only for persons who were residents of Japan or Australia in 2019.
  • “Nil returns” are required to be filed.

Reporting financial institutions, or their agents, can upload and report test data before 30 April 2020.

Read an April 2020 report [PDF 64 KB] prepared by the KPMG member firm in Taiwan

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