Taiwan: CRS reporting deadline 30 June 2021; new information

Ministry of Finance reminders related to the 30 June 2021 CRS reporting deadline for financial institutions

Ministry of Finance issued reminders related to the 30 June 2021 CRS reporting deadline

The Ministry of Finance issued reminders related to the 30 June 2021 common reporting standard (CRS) reporting deadline for financial institutions.

  • Information of reportable accounts held by tax residents of the United Kingdom must be reported, as the UK was added to the reportable jurisdictions list.
  • Information of all reportable, pre-existing individual and entity accounts must be reported. Financial institutions were expected to complete due diligence of pre-existing high value accounts by 31 December 2019 and pre-existing low value entity accounts by 31 December 2020.
  • Financial institutions must use the new XML file format version 2.0 for reporting or correcting CRS information.

Read a May 2021 report [PDF 67 KB] prepared by the KPMG member firm in Taiwan

 

 

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