Bermuda provides additional extension for 2019 CRS reporting
Within the announcement, it is also stated that “any new CRS registrations are required to be submitted by 31 July 2020”.
As earlier announced by the Ministry of Finance, the 2019 CRS information will be exchanged with the below listed CRS Reportable Jurisdictions:
Andorra, Antigua and Barbuda, Argentina, Australia, Austria, Azerbaijan, Barbados, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Estonia, Faroe Islands, Finland, France, Germany, Greece, Greenland, Guernsey, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Italy, Japan, Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Mexico, Monaco, Netherlands, New Zealand, Norway, Pakistan, Panama, Poland, Portugal, Russia, San Marino, Saudi Arabia, Seychelles, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sweden, Switzerland, United Kingdom and Uruguay.
It is stated in the announcement that "Strict enforcement measures will apply for any filings submitted after the above extended deadlines".
About the Author
Marco is a Banker, MBA (finance and accounting), qualified lawyer (LL.M international business and tax law) with 30+ years of working experiences gained within leading Commercial & Private Banking Institutions, Wealth Management Organisations and Financial Service Provider located in Europe and the APAC Region.
Marco is focused on advisory services and project management in the field of
AEoI, FATCA, EU-DAC6, OECD-CRS;
U.S Qualified intermediary regime (QI);
Withholding Tax on Capital gains and Investment Income
Securities transaction tax (stamp tax); and
Austrian, German, Hong Kong, Swiss and U.S. International Tax Law