Finland: Updated FATCA and CRS FAQs

Updated FAQs dealing with due diligence obligations

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March 10, 2025

The tax administration of Finland on February 28, 2025, updated Section 1 of its FATCA and common reporting standard (CRS) “frequently asked questions” (FAQs), dealing with fulfilling due diligence obligations.

Specifically, a question regarding whether a self-issued certificate is needed from an existing customer when opening a new account was updated. The answer was revised to clarify that a self-issued certificate from the customer is not considered a pre-requisite for account opening, when no additional customer information is required by other legislation, for technical account openings involving time deposits that renew automatically without customer involvement.

Read a March 2025 report prepared by the KPMG member firm in Finland

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