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LEGAL ACTS OF THE REPUBLIC OF LATVIA
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The translation of this document is outdated.
Translation validity: 13.04.2018.–31.10.2019.
Amendments not included: 29.10.2019.

Text consolidated by Valsts valodas centrs (State Language Centre) with amending regulations of:

3 January 2017 [shall come into force from 9 January 2017];
10 April 2018 [shall come into force from 13 April 2018].

If a whole or part of a paragraph has been amended, the date of the amending regulation appears in square brackets at the end of the paragraph. If a whole paragraph or sub-paragraph has been deleted, the date of the deletion appears in square brackets beside the deleted paragraph or sub-paragraph.

 

Republic of Latvia

Cabinet
Regulation No. 20
Adopted 5 January 2016

Procedures by which a Financial Institution Implements the Due Diligence Procedures for Financial Accounts and Provides Financial Accounts Information to the State Revenue Service

Issued pursuant to
Section 64, Section 97, Paragraph one,
Section 99, Paragraph one, Section 100,
Paragraph five of the law On Taxes and Duties

1. General Provisions

1. This Regulation prescribes:

1.1. the date of determining the list of involved countries and territories (hereinafter - the involved country) and the category of accounts (Annex);

1.2. the procedures by which the financial institutions referred to in Section 71, Paragraph one of the law On Taxes and Duties (hereinafter - the Law) (hereinafter - the financial institutions) shall implement the due diligence procedures for financial accounts to identify reportable accounts;

1.3. the procedures by which financial institutions shall provide information to the State Revenue Service for forwarding to the competent authority of the involved country in accordance with Section 100 of the Law.

2. The State Revenue Service is the competent authority for ensuring the exchange of information within the scope of this Regulation.

3. The State Revenue Service shall ensure the protection of data to be received and forwarded to the competent authorities of the involved country in accordance with the laws and regulations laying down the protection of information in relation to personal data processing and circulation of such data.

4. According to the procedures laid down in this Regulation and provisions of the agreement entered into by the Republic of Latvia or the European Union with the relevant country the State Revenue Service shall automatically (without prior request) provide to the competent authorities of the involved country the financial accounts information which is indicated in Section 100, Paragraph one of the Law and which has been received from the financial institution in accordance with Section 100 of the Law.

5. If the financial institution (except a trust) is a resident for tax purposes (hereinafter - the tax resident) in two or more involved countries, the financial institution shall apply the provisions regarding reporting or due diligence of such involved country in which the financial institution maintains a financial account or accounts. If the trust is a financial institution (regardless of whether it is a tax resident in the involved country), the trust shall be regarded as subjected to the legal framework of the relevant involved country in relation to automatic exchange of financial accounts information if one or several managers of the trust (authorised persons) are tax residents in the relevant involved country, unless the trust provides the information specified in Section 100, Paragraph one of the Law to a tax administration institution of another involved country because the trust is a tax resident in this other involved country. However, if the financial institution (except a trust) has no residence for tax purposes (for example, because it is deemed financially transparent or because it is located in a country without income tax), it shall be regarded as subjected to the legal framework of the relevant involved country in relation to automatic exchange of financial account information if at least one of the following conditions exists:

5.1. it has been established (founded) in accordance with legal acts of the involved country;

5.2. the place of its management (including the place of effective management) is located in the involved jurisdiction;

5.3. financial supervision of the involved country applies thereto.

6. The financial institution is entitled to apply the provisions of due diligence referred to in Chapters 2, 3, 4, 5, 6, and 7 of this Regulation (except the norms regarding reporting undocumented accounts to the State Revenue Service) also to financial accounts the holders or beneficiaries of which during the implementation of due diligence are not regarded as persons regarding whom the information referred to in Section 100, Paragraph one of the Law must be provided.

2. General Due Diligence Provisions

7. A financial account is regarded as reportable from the date on which the financial account is identified as a reportable account in accordance with the procedures referred to in this Regulation, unless it is laid down otherwise in the Law and this Regulation.

8. A financial account should be regarded as such which is maintained by a financial institution in the following cases:

8.1. a financial instruments account is regarded as an account maintained by the financial institution which is a holder of the assets in the account (including the financial institution which holds the assets upon assignment or for the benefit of another person);

8.2. a depository account is regarded as an account maintained by the financial institution the duty of which is to make payments in relation to the account (except an agent of the financial institution (regardless of whether such agent is a financial institution));

8.3. in relation to any interest in a capital or debt capital in the financial institution which constitutes the financial account it is regarded that the account is maintained by such financial institution;

8.4. in relation to a cash value insurance contract or annuity contract it is regarded that the account is maintained by the financial institution which has a duty to make payments in relation to the contract.

9. The closing balance (value) of the financial account is determined on the last day of the calendar year or on the last day of another relevant reporting period. If the closing balance (value) of the financial account must be determined on the last day of the calendar year, the financial institution shall determine the closing balance (value) of the relevant financial account on the last day of such reporting year, which ends with this calendar year or in such calendar year.

10. The financial institution shall apply the due diligence provisions, taking into account the category of the financial account. Depending on the date of determining their category and residence status the financial accounts shall be divided into the following categories:

10.1. a pre-existing individual account. Depending on the amount of assets recorded therein such accounts shall be divided into the following sub-categories:

10.1.1. lower value account - an account the aggregate closing balance or value of which does not exceed the amount which, according to the reference rate of euro published by the European Central Bank, is equivalent in euros and is equal to 1 000 000 US dollars, on the date of determining the category of accounts indicated in Annex to this Regulation;

10.1.2. high value account - an account the aggregate closing balance or value of which exceeds the amount which, according to the reference rate of euro published by the European Central Bank, is equivalent in euros and is equal to 1 000 000 US dollars, on the date of determining the class of accounts indicated in Annex to this Regulation or on 31 December of any subsequent year;

10.2. a pre-existing entity account;

10.3. a new individual account;

10.4. a new entity account.

11. The financial institution is entitled to:

11.1. apply to the pre-existing lower value individual accounts the due diligence provisions, which have been established for the pre-existing high value individual accounts;

11.2. apply to pre-existing accounts the due diligence provisions, which have been established for new accounts, by retaining the rights of the financial institution to concurrently also apply the due diligence provisions which have been established for pre-existing accounts.

12. Any of the following documents is regarded as documentary evidence which must be obtained by the financial institution in the cases referred to in this Regulation:

12.1. a tax residency statement which has been issued by a body of Latvia or a foreign body governed by public law (competent State or local government authority) regarding its taxpayer;

12.2. regarding an individual - a personal identification document which has been issued by body of Latvia or a foreign body governed by public law (competent State or local government authority);

12.3. regarding an entity - a document which has been issued by a body governed by public law (competent State or local government authority) and which contains the following information:

12.3.1. name of the entity;

12.3.2. actual address of the headquarters of the entity or legal address in the country in which the entity is a resident for tax purposes according to information declared in the financial institution, or the country in which the entity is registered or established;

12.4. any audited financial report, a credit report provided by third persons, a bankruptcy (insolvency) application, or a report of a securities regulator.

13. The legal address of such financial institution in which the entity holds an account, as well as a post office box or an address which is used only for sending correspondence, unless such address is the only address used by the entity and it is indicated in incorporation documents, as well as the registered office (legal address) of the entity shall not be deemed the actual address of the headquarters of the entity in the case referred to in Sub-paragraph 12.3.2 of this Regulation.

14. For the establishment of the type and form of commercial activity of entities in relation to pre-existing accounts the financial institution is entitled to use a standardised sectoral code system classification, which is determined in the financial institution within the scope of its commercial activity by the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing or for the purpose of implementing the requirements of other laws and regulations (except the field of taxes) and which has been implemented by the financial institution before classification of the relevant pre-existing account, unless the financial institution does not know or has reason to know that such classification is incorrect or unreliable.

15. The fact that the financial institution, in applying this Regulation, has established the tax residence of the account holder or its beneficial owner in order to ascertain the reportable financial accounts shall not in any way restrict the rights of the financial institution to determine the status of the client of the financial institution as a tax resident for the purposes of taxes (other mandatory payments) to be paid or deducted by the financial institution.

16. In applying Section 82, Paragraph two of the Law, an entity shall be deemed equivalent to a partnership or a limited liability partnership if it is not regarded as a taxpayer in the involved country in accordance with the tax legal acts of such involved country. However, in order to avoid double reporting, taking into account the extensive scope of the definition of the beneficial owner in case of a trust, a trust which is a passive non-financial entity may not be regarded as an equivalent formation.

17. The financial institution may not rely on a self-certification of the client (hereinafter - the self-certification) or documentary evidence if the financial institution knows or has a reason to know that the self-certification or documentary evidence is incorrect or unreliable.

18. If the financial institution has discovered changes in circumstances regarding a new individual account or any account of an entity, indicating that the self-certification or documentary evidence submitted previously is incorrect or unreliable, the financial institution is entitled to regard the account holder as the tax resident of the relevant country according to the previously submitted self-certification and documentary evidence until one of the following deadlines (depending on which sets in earlier):

18.1. until the day when 90 days have passed since the financial institution has discovered the relevant changes in circumstances;

18.2. until the day when a new self-certification has been received;

18.3. until the day when the financial institution has confirmed the conformity of the previously provided self-certification to the information which is maintained for the purposes of fulfilment of the requirements of laws and regulations or client service, including information which has been obtained by the financial institution during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing.

19. If in the case referred to in Paragraph 18 of this Regulation the financial institution is not able to obtain a new self-certification or a confirmation for the veracity (true nature) of the previously submitted self-certification within 90 days from discovering the relevant changes in circumstances, the financial institution shall regard the account holder as the tax resident of the relevant country according the self-certification previously provided by the account holder and as the tax resident of the relevant country according to the established changes in circumstances pointing towards the indicia of tax residence referred to in this Regulation.

3. Due Diligence Provisions for Pre-existing Individual Accounts

20. Any pre-existing individual account, which in accordance with this Regulation has been identified as a reportable account, shall be recognised as a reportable account also for the whole subsequent time period until the account holder ceases to be a reportable person in accordance with the Law and this Regulation.

21. The financial institution shall complete:

21.1. due diligence of pre-existing high value individual accounts in respect of the countries referred to in Paragraphs 1-35, 37-40, 42-46, 48-53, and Paragraph 55 of Annex to this Regulation - by 31 December 2016;

21.2. due diligence of pre-existing high value individual accounts in respect of the country referred to in Paragraph 56 of Annex to this Regulation - by 15 January 2017;

21.3. due diligence of pre-existing lower value individual accounts in respect of the countries referred to in Paragraphs 1-35, 37-40, 42-46, 48-53, and Paragraphs 55 and 56 of Annex to this Regulation - by 31 December 2017;

21.4. due diligence of pre-existing high value individual accounts in respect of the countries referred to in Paragraphs 36, 41, 47, 54, and Paragraphs 57-99 of Annex to this Regulation - by 31 December 2017;

21.5. due diligence of pre-existing lower value individual accounts in respect of the countries referred to in Paragraphs 36, 41, 47, 54, and Paragraphs 57-99 of Annex to this Regulation - by 31 December 2018;

21.6. due diligence of pre-existing high value individual accounts in respect of the countries referred to in Paragraphs 100, 101, 102, and 103 of Annex to this Regulation - by 31 December 2018;

21.7. due diligence of pre-existing lower value individual accounts in respect of the countries referred to in Paragraphs 100, 101, 102, and 103 of Annex to this Regulation - by 31 December 2019.

[3 January 2017; 10 April 2018]

3.1. Due Diligence Provisions for Pre-existing Lower Value Individual Accounts

22. If the address of the current place of residence of the account holder is indicated in the information systems of the financial institution (which is confirmed by documentary evidence), upon determining whether the account holder is a reportable person, the financial institution is entitled to regard the account holder as a tax resident of such country in which the address of such person is located. If there is a change in circumstances after ascertaining of which the financial institution knows of or has a reason to know that the previously submitted self-certification or documentary evidence is incorrect or unreliable, the financial institution shall, until the final day of the relevant calendar year or other relevant reporting period, or also within 90 days after the abovementioned change in circumstances has been discovered, obtain a new self-certification and new documentary evidence from the account holder in order to determine the residence(s) of the account holder for tax purposes. If the financial institution is not able to obtain a new self-certification or new documentary evidence within the time period referred to in this Paragraph, it shall apply the provisions referred to in Paragraphs 23, 24, 25, 26, 27, and 28 of this Regulation.

23. If the financial institution does not rely on the information referred to in Paragraph 22 of this Regulation or chooses not to apply Paragraph 22 of this Regulation, the financial institution shall check the electronically searchable data stored in its information systems for to existence of the following indicia:

23.1. a reference to the status of the account holder as a tax resident of another involved country;

23.2. the current mailing address or residence address of the account holder (including a post office box) in the involved country (except the address of the service provider (for example, asset manager, consultant, accountant) of the account holder in information systems);

23.3. the account holder has one or several telephone numbers in the involved country, but none in the Republic of Latvia;

23.4. there is a standing instruction for regular transfer of funds to an account in the involved country, except transfer instructions from a depository account;

23.5. valid powers of attorney or signatory authority which have been granted to a person whose address is in the involved country;

23.6. the only address notified by the account holder for communication is the mailing address in the involved country for receipt upon request (in-care-of, hold mail).

24. If none of the indicia referred to in Paragraph 23 of this Regulation are discovered in the search referred to in Paragraph 23 of this Regulation (hereinafter - the electronic search), the financial institution shall not take any further actions until a change in circumstances is discovered that results in one or more of these indicia being associated with the account or the account becomes a high value account.

25. If any of the indicia referred to in Sub-paragraph 23.1, 23.2, 23.3, 23.4, or 24.5 of this Regulation are discovered in the electronic search or if there is a change in circumstances that results in one or more of the abovementioned indicia being associated with the financial account, then the financial institution shall regard the account holder as the tax resident of such country for which an indicium has been identified (except in cases referred to in Paragraphs 27 and 28 of this Regulation).

26. If the indicium referred to in Sub-paragraph 23.6 of this Regulation is discovered in the electronic search and no other address and none of the indicia referred to in Sub-paragraph 23.1, 23.2, 23.3, 23.4, or 24.5 of this Regulation are identified for the account holder, the financial institution shall, in the order most appropriate for the circumstances, apply the paper record search in accordance with Paragraph 30 of this Regulation or perform targeted actions to obtain from the account holder a self-certification or documentary evidence to establish the residence(s) of such account holder for tax purposes. If none of the abovementioned indicia are discovered in the paper record search and the financial institution has not been able to obtain the self-certification or documentary evidence within 90 days, the financial institution shall report such account to the State Revenue Service regarding as an undocumented account.

27. Regardless of whether any of the indicia referred to in Sub-paragraph 23.2, 23.3, or 23.4 of this Regulation are discovered, the financial institution is entitled not to regard the account holder as a tax resident of the relevant involved country if the financial institution obtains or has previously examined and is storing the following in its information systems:

27.1. the self-certification of the account holder regarding belonging only to the status of a tax resident of another involved country or foreign country to which any of the indicia discovered and referred to in Sub-paragraph 23.2, 23.3, or 23.4 of this Regulation are not attributable;

27.2. the relevant documentary evidence.

28. Regardless of whether the indicium referred to in Sub-paragraph 23.5 of this Regulation are discovered, the financial institution is entitled not to regard the account holder as a tax resident of the relevant involved country if the financial institution obtains or has previously examined and is storing in its information systems a self-certification of the account holder regarding belonging only to the status of a tax resident of another involved country or foreign country to which the indicium established and referred to in Sub-paragraph 23.5 of this Regulations is not attributable, or the relevant documentary evidence.

3.2. Due Diligence Provisions for Pre-existing High Value Individual Accounts

29. The financial institution shall check the searchable data to be stored electronically in information systems of the financial institution in accordance with Paragraph 23 of this Regulation.

30. If information systems of the financial institution do not contain fields for inclusion of all the information referred to in Paragraph 31 of this Regulation or if the abovementioned information is not indicated in the relevant fields, the financial institution shall perform paper record search checking the master file of an existing client of the financial institution and, insofar as such information has not been included in the master file of the existing client, checking also the following documents obtained within the last five years, which are related to the financial account, for any indicium referred to in Paragraph 23 of this Regulation:

30.1. the latest documentary evidence collected regarding the account;

30.2. the latest contract regarding opening of a financial account or documentation related thereto;

30.3. the latest documentation obtained by the financial institution during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing;

30.4. any valid powers of attorney or templates of the signatory authorisation (sample forms, cards);

30.5. any standing orders on regular transfer of funds to an account in the involved country, except for transfers from a deposit account.

31. The financial institution does not have a duty to perform the paper record search in accordance with the procedures laid down in Paragraph 30 of this Regulation if the searchable information to be stored electronically in information systems of the financial institution contains the following information:

31.1. information on belonging of the account holder to the status of a tax resident of any country;

31.2. the current address of the place of residence of the account holder in the client file and the mailing address;

31.3. the current telephone number of the account holder in the client file (if any);

31.4. regarding financial accounts which are not depository accounts - a standing instruction on regular transfer of funds to another account, including an account in another branch of the financial institution or in another financial institution;

31.5. information that the client uses the mailing address with a note regarding receipt upon request (in-case-of, hold mail);

31.6. information regarding any powers of attorney or signatory authority in relation to the financial account.

32. In addition to the electronic search referred to in Paragraphs 29 and 30 of this Regulation and paper record search the financial institution shall evaluate the information and knowledge regarding the account holder, which has been obtained by an individual client service specialist whose duties include permanent keeping of contact with the account holder (hereinafter - the relationship manager). The financial institution shall regard the relevant account as a reportable account (including taking into account the requirements referred to in Paragraph 58 of this Regulation) if according to the procedures laid down in the internal procedures of the financial institution the relationship manager indicates towards his or her knowledge regarding the account holder as a reportable person.

33. If, upon applying Paragraphs 29 and 30 of this Regulation, the indicia referred to in Paragraph 23 of this Regulation are not discovered and the financial account has not been identified as a reportable account in accordance with Paragraph 32 of this Regulation, then further actions are not necessary until there is a change in circumstances that results in one or more of the indicia being associated with the account.

34. If, upon applying Paragraphs 29, 30, and 32 of this Regulation, any of the indicia referred to in Sub-paragraph 23.1, 23.2, 23.3, 23.4, or 24.5 of this Regulation are discovered or in the future there is a change in circumstances that results in one or more of the abovementioned indicia being associated with the financial account, the financial institution shall regard the relevant account as a reportable account in relation to such involved country for which the indicium has been identified (except in case when any of the exceptions referred to in Paragraph 27 or 28 of this Regulation is applied in relation to the financial account).

35. If, upon applying Paragraphs 29, 30, and 32 of this Regulation, the indicium referred to in Sub-paragraph 23.6 of this Regulation is discovered and no other address or indicium, which is referred to in Sub-paragraph 23.1, 23.2, 23.3, 23.4, or 24.5 of this Regulation, is discovered, the financial institution shall obtain a self-certification from the account holder or the relevant documentary evidence in order to establish the residence(s) of such account holder for tax purposes. If the financial institution is not able to obtain such self-certification or documentary evidence, it shall report the account to the State Revenue Service as an undocumented account.

36. If a pre-existing individual account is not a high value account on the day when the category of accounts is determined, but becomes a high value account as of the last day of any subsequent calendar year, the financial institution shall apply the provisions referred to in Sub-chapter 3.2 of this Regulation within the calendar year following the year in which the account becomes a high value account. If, on the basis of due diligence, such financial account is identified as a reportable account, the financial institution shall report the information referred to in Section 100, Paragraph one of the Law on the financial account with respect to the year in which it has been identified as a reportable account, and subsequent years until the account holder ceases to be a reportable person in accordance with the Law and this Regulation.

37. If the financial institution has applied the provisions referred to in Sub-chapter 3.2 of this Regulation to a high value account, the financial institution shall not repeatedly apply Paragraphs 29, 30, and 32 of this Regulation in any of the subsequent years (except in the case of an undocumented account). Sub-chapter 3.2 of this Regulation is applied to undocumented accounts until such account ceases to be undocumented.

38. If there is a change in circumstances that results in any of the indicia referred to in Paragraph 23 of this Regulations being associated with the account, the financial institution shall regard the account holder as a tax resident of such country for which the indicium has been identified (except in cases referred to in Paragraphs 27 and 28 of this Regulation).

39. The financial institution shall implement the relevant procedures, ensuring that the relationship manager purposefully carries out activities in order to, on the basis of the information at his or her disposal and his or her actual knowledge, identify any changes in circumstances regarding the account and document such information and knowledge.

4. Due Diligence Provisions for New Individual Accounts

40. Upon opening an account, the financial institution shall obtain a self-certification from the client that allows the financial institution to determine the residence(s) of the account holder for tax purposes. The financial institution shall confirm the conformity of such self-certification with the information obtained by the financial institution in relation to opening of the account, including any documentation obtained by the financial institution during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing.

41. If in the self-certification of the client the account holder is indicated as a tax resident of the involved country, the financial institution shall regard the financial account as a reportable account.

42. The self-certification of the client may be integrated in the the financial account opening documentation of the financial institution. The taxpayer number (in conformity with the exceptions referred to in Section 100 of the Law) and the date of birth shall be indicated, inter alia, in the self-certification of the client.

43. If there is a change in circumstances with respect to a new individual account in result of which the financial institution knows or has a reason to know that the self-certification provided is incorrect or unreliable, the financial institution may not rely on such self-certification and shall obtain a new self-certification which specifies the residence(s) of the account holder for tax purposes. The financial institution shall check it in accordance with Paragraph 40 of this Regulation.

5. Due Diligence Provisions for Pre-existing Entity Accounts

44. The financial institution is entitled not to apply these provisions to a pre-existing entity account the aggregate closing balance or value of which on the day of determining the category of accounts does not exceed the amount which according to the reference rate of euro published by the European Central Bank is equivalent in euros and is equal to 250 000 US dollars, until the moment when the aggregate closing balance or value of the account exceeds the abovementioned amount on 31 December of any subsequent year.

45. The financial institution shall determine whether the account holder is one or more entities regarding which a report must be provided in accordance with Section 100 of the Law, according to the following procedures:

45.1. check the information which is maintained for the purposes of implementing the requirements of laws and regulations or client service, including information which has been obtained by the financial institution during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing, in order to determine whether the information shows that the account holder is a tax resident of the involved country. To this end the financial institution shall regard the place of registration or establishment in the involved country or address (legal address, actual address of the headquarters, or address for receipt of correspondence) in the involved country as the information indicating that the account holder is a resident in the involved country;

45.2. if the information obtained in accordance with the procedures referred to in Sub-paragraph 45.1 of this Regulation shows that the account holder is a tax resident in the involved country, the financial institution shall regard the relevant account as a reportable account, except in case when it obtains a self-certification from the account holder that the account holder is not a reportable person or, on the basis of the information at the disposal of the financial institution or the information maintained by the subject governed by public law or a regulated market organiser and available to the public, determines that the account holder is not a reportable person.

46. The financial institution shall determine whether the entity is a passive non-financial entity with one or more beneficial owners, who are reportable persons in accordance with Section 100 of the Law, according to the following procedures:

46.1. determine whether the account holder is a passive non-financial entity by obtaining a self-certification from the account holder for determination of the abovementioned status, except in case when the financial institution has information at its disposal or there is information maintained by the subject governed by public law or a regulated market organiser and available to the public, on the basis of which the financial institution may determine that the account holder is an active non-financial entity or a financial institution (except the financial institution referred to in Section 68, Paragraph one, Clause 2 of the Law which is not a financial institution of the involved country);

46.2. determine the beneficial owners of the account holder. For this purpose the financial institution is entitled to rely on the information which has been obtained during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing;

46.3. determine whether the beneficial owner of a passive non-financial entity is a reportable person. It shall be determined on the basis of:

46.3.1. the information obtained during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing if the aggregate closing balance or value of the account of the relevant entity does not exceed the amount which according to the reference rate of euro published by the European Central Bank is equivalent in euros and is equal to 1 000 000 US dollars;

46.3.2. a self-certification from the account holder or beneficial owner with a note regarding the belonging of the beneficial owner to the status of a tax resident of the involved country or another country.

47. The financial institution shall perform due diligence for a pre-existing entity account with the aggregate closing balance or value which on the day of determining the category of accounts exceeds the amount that according to the reference rate of euro published by the European Central Bank is equivalent in euros and is equal to 250 000 US dollars by 31 December of the second subsequent calendar year counting from the year in which the category of accounts was determined.

[3 January 2017]

48. The financial institution shall perform due diligence for a pre-existing entity account with the aggregate closing balance or value which on the day of determining the category of accounts does not exceed the amount that according to the reference rate of euro published by the European Central Bank is equivalent in euros and is equal to 250 000 US dollars, however, exceeds the abovementioned amount by 31 December of the subsequent year, in the calendar year following the year in which the aggregate closing balance or value of the account exceeds the abovementioned amount.

49. If the financial institution identifies a change in circumstances with respect to a pre-existing entity account and therefore knows or has a reason to know that the initial self-certification is incorrect or unreliable, the financial institution shall determine the status of the account anew in accordance with Chapter 5 of this Regulation.

6. Due Diligence Provisions for New Entity Accounts

50. The financial institution shall determine whether a new financial entity account is held by one or more reportable persons, in accordance with the following procedures:

50.1. obtain a self-certification which allows the financial institution to determine the residence(s) of the account holder for tax purposes. The financial institution shall confirm the conformity of such self-certification with the information obtained by the financial institution in relation to opening of the account, including any documentation obtained by the financial institution during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing. If the entity certifies that it does not have a place of residence for tax purposes, the financial institution shall recognise the actual address of the headquarters of the account holder as the place of residence of the account holder;

50.2. if it is indicated in the self-certification that the account holder is a tax resident of the involved country, the financial institution shall regard the account as reportable, except in case when it, on the basis of information at its disposal or information maintained by the subject governed by public law or a regulated market organiser and available to the public, determines that the account holder is not a reportable person in relation to the involved country indicated in the self-certification.

51. Regarding the account holder of a new legal entity (including such legal entity which is a reportable person) the financial institution shall determine whether the account holder is a passive non-financial entity with one or more beneficial owners who are reportable persons. It shall be implemented taking into account the sequence most appropriate for the particular circumstances of the case in relation to the following activities:

51.1. determine whether the account holder is a passive non-financial entity on the basis of a self-certification from the account holder for determination of the abovementioned status, except in case when the financial institution has information at its disposal (including information maintained by the subject governed by public law or a regulated market organiser and available to the public), on the basis of which the financial institution may determine that the account holder is an active non-financial entity or a financial institution (except the financial institution referred to in Section 68, Paragraph one, Clause 2 of the Law which is not a financial institution of the involved country);

51.2. determine the beneficial owners of the account holder. To this end the financial institution is entitled to rely on the information which has been obtained during the course of application of the procedures for identification and research of clients approved in accordance with the Law on the Prevention of Money Laundering and Terrorism Financing;

51.3. determine whether the beneficial owner of a passive non-financial entity is a reportable person. To this end the financial institution is entitled to rely on a self-certification from the account holder or such beneficial owner regarding the residence of the beneficial owner for tax purposes.

52. The self-certification referred to in this Chapter of the client or beneficial owner may be integrated in the financial accounts opening documentation of the financial institution.

7. Special Due Diligence Provision for Insurance and Annuity Contracts, for Aggregation and Converting of the Balance of Accounts

53. Upon implementing the due diligence provisions referred to in Chapters 2, 3, 4, 5, and 6 of this Regulation, the financial institution shall additionally apply the special provisions referred to in this Chapter.

54. The financial institution may assume that an individual beneficiary of a cash value insurance contract or annuity contract (except the owner), who receives a benefit in case of death, is not a reportable person, and it may regard such financial account as a non-reportable account, except in case when the financial institution, which provides reports, actually knows or has a reason to know that the beneficiary is a reportable person. The financial institution has a reason to know that the beneficiary of a cash value insurance contract or annuity contract is a reportable person if the information collected by the financial institution, which provides reports and is related to the beneficiary, contains the indicia referred to in Sub-chapter 3.1 of this Regulation. If the financial institution actually knows or has a reason to know that the beneficiary is a reportable person, the financial institution, which provides reports, must conform to the provisions included in Sub-chapter 3.1 of this Regulation.

55. Such financial account, which is the interest of a participant in a group cash value insurance contract or annuity contract, until the day when an employee (holder of the certificate) or beneficiary must disburse the amount, the financial institution may regard the financial account as a non-reportable financial account if the financial account, which is the interest of a participant in a group cash value insurance contract or annuity contract, conforms to the following requirements:

55.1. the group cash value insurance contract or a group annuity contract has been issued to the employer and ensures the coverage for at least 25 employees or holders of the certificate;

55.2. the employee (holder of the certificate) has the right to receive any value of the contract in relation to his interest and determine the beneficiaries in relation to the benefit to be disbursed in case of death of the employee;

55.3. the total amount to be disbursed to the employee (holder of the certificate) or beneficiary does not exceed the amount which according to the reference rate of euro published by the European Central Bank is equivalent in euros and is equal to 1 000 000 US dollars.

56. A group cash value insurance contract is a cash value insurance contract which ensures coverage for persons, who are affiliated through an employer, trade association, labour union, or other association or group, and charge a premium for each member of the group (or member of a class within the group) that is determined without regard to the individual health characteristics other than age, gender, and smoking habits of the member (or class of members) of the group.

57. A group annuity contract is an annuity contract under which the obligees are individuals who are affiliated through an employer, trade association, labour union, or other association or group.

58. The financial institution shall conform to the following account balance aggregation and currency rules:

58.1. in order to determine the aggregate closing balance or value of financial individual accounts, the financial institution shall aggregate all the financial accounts maintained thereby and the financial accounts held by entities related to such financial institution only to the extent that the information systems for recording of accounts of such financial institution link the financial accounts by such data elements as the client number or taxpayer registration number, and allows to aggregate the closing balances or values of accounts. Upon applying the requirements for aggregation referred to in this Sub-paragraph, the closing balance (value) of the individual account in joint property (joint holding) will be inseparably attributed to the closing balance (value) belonging to each joint owner (joint holder) of such financial account;

58.2. in order to determine whether the financial account held by an individual is a high value account, the financial institution shall aggregate the balances of all such accounts in relation to which the relationship manager has ascertained (or he or she had to ascertain), according to the procedures laid down in internal procedures of the financial institution, that they directly or indirectly belong to the same person or have been opened in the interests or for the benefit of the same person (except in case when the individual, who opened the account or is acting with it, is doing it upon assignment of another person);

58.3. in order to determine the aggregate closing balance or value of financial accounts held by an entity, the financial institution shall take into account all financial accounts maintained by the financial institution or an entity related to such financial institution only to the extent that the information systems for recording of accounts of such financial institution link the financial accounts by such data elements as the client number or taxpayer registration number, and allows to aggregate the closing balances or values of accounts. Upon applying the requirements for aggregation referred to in this Sub-paragraph, the closing balance (value) of the entity account in joint property (joint holding) will be inseparably attributed to the closing balance (value) belonging to each joint owner (joint holder) of such financial account;

58.4. in order to determine the closing balance (value) of accounts, all amounts of the balance of financial accounts which are not expressed in euros shall be recalculated in the cases referred to in Paragraphs 10, 44, 46, 47, 48, and 55 of this Regulation according to the reference rate of euros published by the European Central Bank on the day of recording the closing balance (value) of the account.

59. If as a result of aggregation of closing balances (values) of financial accounts the financial institution establishes a negative balance (value), then, in applying this Regulation, the abovementioned negative balance shall be equalled to zero.

8. Procedures for Providing, Examining, and Forwarding Information

60. Exchange of information between the State Revenue Service and the financial institutions shall take place electronically, using the solution ensured by the State Revenue Service, which is provided for automated exchange of the information indicated in Section 100 of the Law (hereinafter - the information) with financial institutions online (hereinafter - the WEB service) in the data exchange format developed by the Organisation for Economic Co-operation and Development (hereinafter - the XML scheme), which is available on the website of the Organisation for Economic Co-operation and Development.

61. The State Revenue Service shall, within five working days after receipt of the request of the financial institution, ensure granting of the rights of the WEB service user to the financial institution.

62. The financial institutions, using the WEB service, shall submit information to the State Revenue Service electronically until the reporting period (calendar year regarding which information is provided) until 31 July of the following year.

63. Upon providing to the State Revenue Service the first report on the relevant involved country, the financial institution shall also comply with the deadlines indicated in Annex to this Regulation.

[3 January 2017]

64. The financial institutions of Latvia shall prepare information in a format of an XML file in compliance with the requirements of the XML scheme.

[3 January 2017]

65. Upon providing information regarding the address of the holder of a financial account and the address of the beneficial owner of a passive non-financial entity, the following information shall be indicated:

65.1. the address of the place of residence of the individual (account holder) and the beneficial owner of a passive non-financial entity available to the financial institution, but, if not available, the address for sending correspondence available to the financial institution;

65.2. the legal address of the entity available to the financial institution or actual address of the headquarters, but, if not available, the address for sending correspondence available to the financial institution.

66. If the financial institution establishes in accordance with the procedures referred to in this Regulation that the holder of an individual financial account or the beneficial owner of the financial account holder of a passive non-financial entity is a tax resident in several involved countries, the financial institution shall provide information on the financial account regarding each involved country separately.

67. Upon providing information regarding the closing balance (value) of financial accounts, the financial institution shall conform to the following special provisions for calculating the balance (value):

67.1. the closing balance (value) of the account is not reduced by any amount of liabilities of the account holder or beneficial owner towards the financial institution or the entity related thereto;

67.2. the amount of interest in capital is calculated taking into account the assessment method which is most often used by the financial institution in evaluation of interest in capital;

67.3. regarding a financial instruments account - the financial institution is entitled to deduct from the total gross amount of interest, dividends and other income, as well as from the total gross amount of revenue from selling or extinguishing of financial assets, such commission received by the financial institution which is related to the disbursement of the abovementioned income and maintenance of the financial account;

67.4. regarding selling or extinguishing of financial assets in the financial instruments account - the financial institution shall include also the unpaid interest payments, which have been accumulated prior to selling or extinguishing, into the total amount of revenue.

68. If a reportable account was closed in the relevant reporting period, the financial institution shall notify the fact of closing the reportable financial account in accordance with the procedures referred to in this Regulation, without indicating information regarding closing balance or value of the closed financial account. Closing of the financial account shall not revoke the duty of the financial institution specified in Section 100 of the Law to provide other information specified in Section 100 of the Law on the closed reportable account regarding the relevant reporting period.

69. If the financial institution does not have at its disposal information which in accordance with the Law and this Regulation must be provided to the State Revenue Service, it shall, as soon as possible, but not later than until 31 July of the year following the reporting year, submit a zero report to the State Revenue Service in conformity with Paragraphs 62, 63, and 64 of this Regulation.

70. The State Revenue Service shall, within five working days after receipt of information, inform the financial institution electronically through the WEB service regarding receipt of the information. If at the time when the information is submitted the State Revenue Service establishes that the requirements of the XML scheme have not been conformed to, it shall, within five working days after receipt of the information, inform the financial institution regarding the non-conformities established electronically through the WEB service.

71. The financial institution shall, within 10 working days after the information regarding the necessary corrections has been received from the State Revenue Service on the basis of Paragraph 70 of this Regulation, submit the relevant corrections to the State Revenue Service, using the WEB service.

72. The State Revenue Service shall ensure sending of the information regarding financial accounts of residents of such countries in the financial institutions received from the financial institutions to the competent authorities of the involved countries by 30 September of the year following the reporting period.

73. If the financial institution does not have the opportunity to provide information in accordance with the requirements referred to in Paragraph 60 of this Regulation, it shall, as soon as possible, but not later than by 31 July of the year following the reporting period, inform the State Revenue Service regarding the reasons for non-provision of information and the foreseeable date for the provision of information.

74. If the foreseeable date for providing information is determined after 30 September of the year following the reporting year, the State Revenue Service shall, within 20 working days after receipt of the information referred to in Paragraph 73 of this Regulation, inform the competent authority of the involved country about the reasons for non-provision of information and the foreseeable date for the provision of information.

[3 January 2017]

75. If the competent authority of the involved country notifies that the information provided by the financial institution is erroneous, incomplete or otherwise non-conforming to the requirements of the XML scheme, the State Revenue Service shall, as soon as possible, but not later than within 20 working days after receipt of information from the competent authority of the involved country, inform the financial institution thereof, using the electronic declaration system of the State Revenue Service. Upon informing the financial institution, the State Revenue Service shall provide access to the report of the competent authority of the involved country for the financial institution, indicating the date of receipt thereof.

[3 January 2017]

76. The financial institution shall, within two months after receipt of the information referred to in Paragraph 75 of this Regulation from the State Revenue Service, submit the requested or corrected information thereto electronically, in conformity with Paragraph 64 of this Regulation and using the WEB service or the electronic declaration system of the State Revenue Service. The requirement referred to in Paragraph 64 of this Regulation shall not apply if on the basis of the request of the competent authority of the involved country the information must be submitted in writing.

77. If the financial institution does not have the opportunity to provide information in accordance with the requirements referred to in Paragraph 76 of this Regulation, it shall, as soon as possible, but not later than within two months after receipt of the information referred to in Paragraph 75 of this Regulation from the State Revenue Service, inform it regarding the reasons for non-provision of information and the foreseeable date for the provision of information.

9. Closing Provisions

78. This Regulation shall come into force on 15 January 2016.

79. According to this Regulation the financial institutions shall provide to the State Revenue Service information on each involved country regarding the calendar year indicated in Annex to this Regulation and the years following it.

Prime Minister Laimdota Straujuma

Minister for Finance Jānis Reirs

 

Annex
Cabinet Regulation No. 20
5 January 2016

Involved Countries and Date of Determining the Category of Accounts

[3 January 2017; 10 April 2018]

No. Country Date of determining the category of accounts1 Period regarding which the first report must be provided1 Date by which the financial institution provides the first report to the State Revenue Service
new accounts pre-existing accounts
high value individual accounts lower value individual accounts entity accounts
1 2 3 4 5 6 7 8
1. Austria 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

2. The United Kingdom 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

3. Belgium 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

4. Bulgaria 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

5. The Czech Republic 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

6. Denmark 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

7. France 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

8. Greece 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

9. Croatia 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

10. Estonia 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

11. Ireland 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

12. Italy 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

13. Cyprus 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

14. Lithuania 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

15. Luxembourg 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

16. Malta 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

17. Netherlands 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

18. Poland 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

19. Portugal 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

20. Romania 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

21. Slovakia 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

22. Slovenia 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

23. Finland 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

24. Spain 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

25. Hungary 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

26. Germany 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

27. Sweden 31 December 2015 1) from 1 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

28. England2 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

29. Argentina 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

30. Barbados 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

31. Bermuda2 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

32. The British Virgin Islands2 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

33. The Cayman Islands2 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

34. Columbia 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

35. Curaçao 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

36. The Commonwealth of Dominica 15 January 2016 1) from 1 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

37. The Faroe Islands 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

38. Gibraltar 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

39. Greenland 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

40. Guernsey 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

41. Iceland 15 January 2016 1) from 1 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

42. India 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

43. The Isle of Man 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

44. Jersey 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

45. Korea 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

46. The Principality of Liechtenstein 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

47. The Republic of Mauritius 15 January 2016 1) from 1 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31.07.2018. 31.07.2018. 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

48. Mexico 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

49. Montserrat 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

50. Niue 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

51. The Republic of San Marino 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

52. Seychelles 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

53. The Republic of South Africa 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

54. Trinidad and Tobago 15 January 2016 1) from 1 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

55. The Turks and Caicos Islands2 15 January 2016 1) from 16 January 2016 to 31 December 2016, or 2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable in 2017 31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable in 2017

56. Norway 15 January 2016 1) from 16 January 2016 to 31 December 2016, or

2) from 1 January 2017 to 31 December 2017 if the financial institution recognises the account as reportable after 15 January 2017

31 July 2017 31 July 2017 1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable after 15 January 2017

1) 31 July 2017, or

2) 31 July 2018 if the financial institution recognises the account as reportable after 15 January 2017

57. Albania 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

58. Andorra 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

59. Antigua and Barbuda 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

60. The United Arab Emirates2 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

61. Aruba 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

62. Australia 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

63. The Commonwealth of the Bahamas 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

64. The State of Bahrain 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

65. Belize 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

66. Brazil 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

67. Brunei Darussalam 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

68. Chile 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

69. Ghana 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

70. Grenada 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

71. Hong Kong 9 January 2017 from 9 January 2017 to 31 December 2017, or

from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 31 July 2018 or 31 July 2019 if the financial institution recognises the account as reportable in 2018 31 July 2018 or 31 July 2019 if the financial institution recognises the account as reportable in 2018
72. Indonesia 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

73. Israel 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

74. New Zealand 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

75. Japan 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

76. Canada 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

77. The State of Qatar2 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

78. The Republic of Costa Rica 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

79. The Cook Islands 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

80. Kuwait 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

81. China 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

82. The Lebanese Republic 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

83. Macao (People's Republic of China) 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

84. Malaysia 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

85. The Republic of the Marshall Islands 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

86. Monaco 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

87. Nauru2 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

88. The Republic of Panama 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

89. The Independent State of Samoa 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

90. Saudi Arabia 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

91. The Federation of Saint Kitts and Nevis 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

92. Saint Lucia 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

93. Saint Vincent and the Grenadines 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

94. Singapore 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

95. Sint Maarten 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

96. Switzerland 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

97. Turkey 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

98. The Eastern Republic of Uruguay 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

99. The Republic of Vanuatu 9 January 2017 1) from 9 January 2017 to 31 December 2017, or

2) from 1 January 2018 to 31 December 2018 if the financial institution recognises the account as reportable in 2018

31 July 2018 31 July 2018 1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

1) 31 July 2018, or

2) 31 July 2019 if the financial institution recognises the account as reportable in 2018

100. The Republic of Azerbaijan 13 April 2018 1) from 13 April 2018 to 31 December 2017, or

2) from 1 January 2019 to 31 December 2019 if the financial institution recognises the account as reportable in 2019

31 July 2019 31 July 2019 1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

101. The Russian Federation 13 April 2018 1) from 13 April 2018 to 31 December 2017, or

2) from 1 January 2019 to 31 December 2019 if the financial institution recognises the account as reportable in 2019

31 July 2019 31 July 2019 1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

102. The Federal Republic of Nigeria 13 April 2018 1) from 13 April 2018 to 31 December 2017, or

2) from 1 January 2019 to 31 December 2019 if the financial institution recognises the account as reportable in 2019

31 July 2019 31 July 2019 1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

103. The Islamic Republic of Pakistan 13 April 2018 1) from 13 April 2018 to 31 December 2017, or

2) from 1 January 2019 to 31 December 2019 if the financial institution recognises the account as reportable in 2019

31 July 2019 31 July 2019 1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

1) 31 July 2019, or

2) 31 July 2020 if the financial institution recognises the account as reportable in 2019

Notes.

1 If the financial institution has exercised the rights specified in Section 99, Paragraph four of the law On Taxes and Duties regarding such financial accounts holders or beneficiaries of which during implementation of the due diligence are tax residents in any country indicated in Paragraphs 28-55 of this Table, 31 December 2015 shall be deemed as the date of determining the category of accounts for the financial institution regardless of the date indicated in Box 3 of this Table. In such case the first reporting period regarding year 2016 shall be from 1 January 2016 to 31 December 2016.

2 A financial institution is entitled not to impose due diligence procedures to the residents of this involved country and shall not provide the information referred to in Section 100, Paragraph one of the law On Taxes and Duties to the State Revenue Service.

Minister for Finance Jānis Reirs

 


Translation © 2018 Valsts valodas centrs (State Language Centre)

 
Document information
Status:
In force
in force
Issuer: Cabinet of Ministers Type: regulation Document number: 20Adoption: 05.01.2016.Entry into force: 15.01.2016.Publication: Latvijas Vēstnesis, 9, 14.01.2016. OP number: 2016/9.10
Language:
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