Austria issues Tax Act with amendments on CRS

On 20 November 2019, the Government of Austria issued regulation 339 modifying the regulation for the Common Reporting Standard (“CRS”) in Austria (Link-German).

The list of non-reporting financial institutions now includes seven exemptions. In addition, ten accounts are listed on the list of accounts that are to be treated as excluded accounts to remove real estate funds.

The amendments will enter into force on 1 January 2020.

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