Under the provisions of the Information Exchange Act (Informationsaustauschgesetz), financial account information in tax matters will be automatically exchanged between the Federal Central Tax Office (BZSt) and the competent authorities of the respective associated states and transmitted to the BZSt electronically by 31 July 2021.

The countries with which information is exchanged include:

• Member States of the European Union;
• third countries that are parties to the multilateral agreement signed by the Federal Republic of Germany in Berlin on 29 October 2014 between the competent authorities on the automatic exchange of financial account information;
• third countries which have treaties with the European Union providing for the automatic exchange of financial account information; and
• third countries with which the Federal Republic of Germany has concluded an agreement on the exchange of tax information under which an automatic exchange of information can be agreed.

In a letter dated 16 June 2021, the BZSt announced the countries for which the conditions for the automatic exchange of financial account information are met as of 11 May 2021, with which the automatic exchange of data will take place with effect from 30 September 2021 and for which the reporting financial institutions must transmit financial account data to the BZSt by 31 July 2021. The final list of CRS countries for the year 2021 can be viewed and downloaded in German from the BZSt website at www.bzst.bund.de.

Photo: Adobe Stock, joda

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