On 12 November 2019, German Federal Central Tax Office (“Bundeszentralamt für Steuern” or “BZSt”) issued a newsletter “CRS Infobrief 07/2019”, providing updated information regarding the Common Reporting Standard (“CRS”) (Link-German). The updates include:
- Information about the new OECD CRS Scheme 2.0, which is available as of 1 January 2021, for international data exchange. For the German national data transmission, the new scheme will be implemented from 1 December 2020. With the conversion of the CRS XML schema, the ELMA header will be adapted analogous to FATCA. This is used together with the new CRS schema from 1 December 2020.
- Information that cancellation deliveries are now only possible for first and empty deliveries. Cancellation of a correction delivery is no longer permitted. In future, relevant changes can only be made via a further correction or deletion delivery.
- A list of the six most common errors which led to rejection.
- A reference to the information provided by the OECD on country-specific tax identification numbers (“TINs”). Financial institutions can check the respective national regulations, structure, use and validity of the tax identification numbers provided by customers on the OECD’s website (Link).
In addition, also on 15 November 2019, the BZSt released version 3.0 of the German XML User Guide (Link-German). The User Guide will be effective from 1 January 2021.