Italy: Certain CRS reporting obligations, deadline of 30 October 2020
Italy: Certain CRS reporting obligations
The Ministry of Economy and Finance issued a decree regarding the common reporting standard (CRS) reporting obligations for financial accounts held by “reportable persons” in certain jurisdictions.
Italian “reporting financial institutions” are required to file CRS information with the Italian tax authority for FY 2019 by 30 October 2020 for the following jurisdictions:
- Antigua and Barbuda
- Costa Rica
- Saint Kitts and Nevis
- Saint Lucia
The decree requires that information be submitted within five days of publication in the Italian official gazette. The decree was published in the Italian Republic Official Gazette of 27 October 2020. However, the Italian Ministry of Economy and Finance asked reporting Italian financial institutions to file the information by 30 October 2020, for timely fulfillment of its international commitments.
Read an October 2020 report [PDF 76 KB] prepared by the KPMG member firm in Italy
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