Germany: Updated CRS guidance, final state exchange list

CRS Newsletter 03/2023

Final state exchange list

Article Posted date 01 August 2023

Germany’s federal central tax office (BZSt) released guidance (CRS Newsletter 03/2023), which contains the following updates:

  • The BZSt issued a final state exchange list for 2023. There are some changes to the final list as compared to the provisional state exchange list released in February 2023.
  • Countries with a unilateral exchange relationship with Germany will not require data to be transmitted to the BZSt. Sint Maarten is a new addition to this list. Also, the exchange status of Ghana, Maldives, and Saint Kitts and Nevis has changed. Beginning in 2023, financial institutions must also transmit data for these countries to the BZSt. For Jamaica, the mutual exchange of information on financial accounts will take place for the first time, beginning with the 2022 reporting period. The CRS system is now configured per the final list, reports can be prepared for all countries mentioned in the list.
  • As the exchange of information on tax matters with Russia remains suspended, financial institutions are instructed not to transmit financial account information to the BZSt. Consequently, Russia has been removed from the state exchange list.

Read an August 2023 report [PDF 222 KB] prepared by the KPMG member firm in Germany

 

 

Print friendly version

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.