• Marco Zawar MBA/LLM (Tax)

Italy extended the CRS and FATCA reporting timeline to September 30, 2020

On June 30, 2020 the Italian Ministry of Economy and Finance informed in the Press release 0144 (in Italian) that the due date for #CRS and #FATCA reporting for the reporting year 2019 to the Italian tax authorities is deferred to September 30, 2020.

The deferral concerns the information exchange with

  • EU Member states based on the EU Directive 2014/107/EU (#DAC2):

  • Non-EU Member states on the basis of the Multilateral Competent Authority Agreement (#MCAA) signed on October 29, 2014; and

  • the United States based on the Intergovernmental Agreement (#IGA).

Financial institutions are encouraged to assess their current operating model and integrate IT solutions like CRS/FATCA One from Trans World Compliance Inc. supporting financial institutions #AML/KYC, #remediation and #reporting obligations under FATCA and CRS to mitigate their legal risks through in-adequate AML/KYC and fiscal reporting procedures.

If you wish to find out more about CRS/FATCA One or potential consulting service to ensure, that FATCA and CRS is implemented as required by the local law, please feel free to contact me.

About the Author

I am a Banker, MBA (finance and accounting) and LLM (international business and tax law) with 30+ years experiences as business consultant, project manager and in-house legal and tax counsel acquired within leading Private Banking Institutes, Wealth Management Organisations and Central Securities Depository and Clearing houses located in Europe and the APAC Region.

I am specialist on advisory services in the field of


  • 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

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©2019 by Marco Zawar