INFORMATION ON COMPULSORY AUTOMATIC EXCHANGE OF FINANCIAL ACCOUNT DATA ACCORDING TO THE COMMON REPORTING STANDARD (CRS)
The Common Reporting Standard (CRS) established by the Organization for Economic Co-operation and Development (OECD) and the European Directive 2014/107 / EU (DAC2) on the mandatory automatic exchange of information in the field of taxation, constitutes the obligations of regulatory news for financial institutions in the countries required by the above (CRS and / or European Directive 2014/107 / EU DAC2) to collect and report information on the financial account, to contributing to the treatment of tax evasion and avoidance of taxes, as well as improving tax compliance internationally. Albania is committed to complying with the above in accordance with Law 4/2020 and all guidelines and normative acts related to it.
Based on the above, Tirana Bank is obliged to submit information on the financial accounts of Reportable Persons held with Tirana Bank, until December 31 of the previous calendar year, at the General Tax Directory (GTD), until July 31, 2020, and onwards every year within the month of May, with the data of the previous calendar year.
Indications for Reportable Persons include, but not limited to: the permanent residence address and / or the address of correspondence in a foreign participating country and / or foreign jurisdiction, the unique telephone number in a foreign participating country and / or foreign jurisdiction, any power of attorney / authorization granted to a person with an address in a foreign country and / or foreign jurisdiction, etc ..
The data of the Reportable Persons to be submitted by the financial institutions to the General Directorate of Taxes for the purpose of reporting the Fiscal Residence, include the following:
Full name of the individual / Company name, Address (s), Tax residence jurisdiction (et), Taxpayer Identification Number (TIN), date and place of birth (for individuals only), account number (s), balance / value of deposit or custody account.
The transfer of this data will be carried out according to the conditions and guarantees that provide the proper protection of your personal data. Tirana Bank sha, guarantees that it has taken all necessary measures for the safe handling of the account holder's data, realizing that his personal and financial data will be treated in accordance with law no. 9887, dated 10.03.2008 on "Personal data protection”, as amended, and the instruction of the Bank of Albania, no. 32, dated 08.05.2002 on "Banking secrecy".
For more information on the OECD Reporting Standard for Automatic Exchange of Financial Accounting Information (CRS), please refer to https://www.oecd.org/tax/automatic-exchange/common-reporting-standard/ose the website of the Independent Public Revenue Authority https://www.tatime.gov.al/ or your tax advisor.
The request of each client regarding his / her personal data and the exercise of his / her rights must be addressed in writing to Tirana Bank sh.a., to Officer of Data Protection (DPO) and sent by email to [email protected] or to be delivered to any branch of the Bank.
Tirana Bank, as a financial institution, is not allowed to provide tax advice to its customers.