Presentation of the company BTCP
FATCA
Based on article 62 of Law no. 207/2015 regarding the Fiscal Procedure Code, financial institutions have the obligation to annually declare to the fiscal authority within A.N.A.F. financial information related to accounts opened and/or closed by resident taxpayers of states with which Romania has engaged through an international law legal instrument for such an exchange of information. Considering the provisions:
- Law no.70/2016 regarding the ratification of the Multilateral Agreement of the competent authorities for the automatic exchange of information concerning financial accounts, signed in Berlin, on October 29, 2014, published in the Official Gazette of Romania, Part I, no. 328 of April 28, 2016
- Agreement between Romania and the United States of America for improving international tax compliance and for the implementation of FATCA, signed in Bucharest on May 28, 2015 ratified by Law no. 233/2015, published in the Official Gazette of Romania, Part I, no. 808 bis of October 30, 2015
- in the context in which you are a resident taxpayer of a state with which Romania has committed to exchange financial information, then the financial information regarding the accounts opened and/or closed by you at financial institutions in Romania are subject to reporting to the tax authority within A.N.A.F;
- these informations obtained by the tax authority within A.N.A.F. are used only for the purpose of carrying out the exchange of information on taxpayers resident in the concerned states and for improving international tax compliance, in accordance with the provisions of art.11 of the Fiscal Procedure Code regarding Tax Secrecy.
