Austria issues Tax Act with amendments on CRS

On 29 October 2019, the Government of Austria issued the Finanz-Organisationsreformgesetz – (“FORG”), which is a law modifying taxes (Link-German). The FORG is the Austrian Financial Organisation Reform Act and amends multiple Austrian Laws. In this respect, Art.42 of the FORG “Änderung des Gemeinsamer Meldestandard-Gesetzes”, contains amendments related to the reporting requirements within the Common Reporting Standard (“CRS”). The changes relate to definitions and general information on CRS reporting.

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