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The reporting obligation to financial institutions stems from the law on the automatic exchange of information on financial accounts for tax administration purposes in 2015. The law oversees the 39; absence of global and cross-border tax evasion and tax evasion, and it also serves as a tool to detect taxpayers who do not cooperate across financial institutions.
The Association of Slovak Banks (SBA) informed that as of June 30, 2018, financial institutions had provided financial information to certain financial information for the year 2017 on the financial accounts Residents US tax authorities, EU Member States and most of the OECD's contracting states. Banks in Slovakia have therefore verified the nationality, place of residence of natural persons and the registered office of legal persons, not only by establishing new accounts, but also in the case of accounts already established. In addition to the common identification data, it is necessary to document the use of financial services at all banks in which these persons hold the accounts, the tax identification number and the state. tax residence.
Daniari sends the information received to the tax authorities of the States concerned on 30 September 2018. The financial reports in the member and signatory countries will thus obtain information on the bank account of each foreign bank, its account number and its balance.
The Slovak Financial Administration receives the same financial information and the same identification data for Slovak nationals holding financial accounts abroad for the third time, by the end of September at the latest
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