On 4 July 2017, the Agenzia delle Entrate (“AdE”) issued Regulation that implement the CRS Ministerial Decree dated 28 December 2015 (“CRS Regulation”) (Link-Italian). The CRS Regulation provides, among others, certain significant information:
- The CRS reporting deadline has been extended to 21 August 2017, as published on our CITT Blog on 7 July 2017;
- Financial institutions have the possibility to submit amended CRS reports (if the original CRS reports have been submitted within the deadline outlined in the previous indent) within the period of 15 days after the reporting deadline, i.e. until 5 September 2017 (Link-Italian); and,
- Financial institutions must register on the “FATCA/CRS” section of the Electronic Registry of addresses (“REI: registro elettronico degli indirizzi”) in the Tax Register (“Anagrafe tributaria”) by 18 September 2017.
Additional technical information can be found in the attachment no. 2 of the CRS Regulation (Link-Italian).