Taiwan – CRS reporting for Year 2019 commences 01 June 2020
The National Taxation Bureau of Southern Area (“NTBSA”) on April 6, 2020 released a Notice for Reporting Financial Institutions under the CRS regulations of the R.O.C.
NTBSA in the Notice stated, that from 2020 onwards, all Taiwanese Reporting Financial Institutions (“TRFI’s”) are required, to file their CRS returns during the period
June 1 to June 30 for the previous calendar year.
The report submission (including Nil Reports) has to be completed through the CRS Financial Institution Portal.
For the reporting year 2019 TRFI’s has the obligation to report financial account information for Australian and Japanese tax residents only.
NTBSA allows TRF’s to delegate the fiscal reporting to 3rd party service provider.