• Marco Zawar MBA/LLM (Tax)

Bulgaria extended FATCA and CRS Reporting due date to 30 September 2020

In an Announcement published on 11 June 2020, the Bulgarian tax authorities informed that Bulgarian based financial institutions having reporting obligations under Chapter Sixteen, Section IIIa of the Bulgarian Tax and Social Security Procedure Code (“TSSPC”) may file their #CRS and #FATCA #returns until September 30, 2020.

The tax authorities additionally communicated, that the EU is drafting a directive to extend the due dates for the automatic exchange of information between Member States, in accordance with Directive 2014/107 / EU (#DAC2) and Directive (EU) 2018/822 (#DAC6).

Following the final adoption of the Directive, the relevant deadlines set out in the TSSPC will be amended.

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

©2019 by Marco Zawar