Germany: Updated CRS guidance for financial institutions
Germany: Updated CRS guidance
Germany’s central tax office (BZSt) released a newsletter (CRS Newsletter 01/2021) with information for financial institutions concerning the common reporting standard (CRS) regime.
The update notifies taxpayers that a technical problem occurred during the changeover to CRS schema version 2.0. This has resulted in delays sending processing logs—affecting both the production and the test environment. The release notes that the problem has been identified and will be resolved as early as possible, but taxpayers are requested to refrain from sending inquiries about the status of processing logs and the status of processing.
Read a February 2021 report [PDF 79 KB] prepared by the KPMG member firm in Germany
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